Ensign Peak Advisors Inc Grows Stake in Portland General Electric (NYSE:POR)

Ensign Peak Advisors Inc grew its holdings in Portland General Electric (NYSE:POR) by 90.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 54,967 shares of the utilities provider’s stock after buying an additional 26,075 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.05% of Portland General Electric worth $2,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Portland General Electric in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Portland General Electric in the 2nd quarter valued at approximately $33,000. Mather Group LLC. purchased a new position in shares of Portland General Electric in the 1st quarter valued at approximately $34,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Portland General Electric by 140.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 537 shares during the period.

Portland General Electric Stock Up 1.1 %

Portland General Electric stock opened at $48.09 on Friday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.36 and a beta of 0.59. The stock has a fifty day simple moving average of $47.49 and a two-hundred day simple moving average of $44.51. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Equities analysts predict that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,486 shares of company stock valued at $262,153. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on POR shares. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Evercore ISI initiated coverage on Portland General Electric in a research note on Wednesday. They issued an “outperform” rating and a $54.00 target price for the company. Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.78.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.