Axa S.A. Acquires 8,200 Shares of Portland General Electric (NYSE:POR)

Axa S.A. boosted its stake in Portland General Electric (NYSE:POR) by 85.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,753 shares of the utilities provider’s stock after acquiring an additional 8,200 shares during the period. Axa S.A.’s holdings in Portland General Electric were worth $768,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of Portland General Electric by 767.2% during 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 in the last quarter. LRI Investments LLC bought a new stake in Portland General Electric during the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Portland General Electric during the 2nd quarter worth approximately $33,000. Mather Group LLC. bought a new position in shares of Portland General Electric in the 1st quarter worth 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on POR. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI started coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. Finally, Barclays cut Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.78.

Insiders Place Their Bets

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. 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. Company insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 0.3 %

POR stock opened at $47.76 on Wednesday. The stock has a market capitalization of $4.92 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.33 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45. The business has a fifty day moving average price of $47.54 and a 200-day moving average price of $44.64.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share 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%. Portland General Electric’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities analysts forecast that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Portland General Electric Profile

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.