DekaBank Deutsche Girozentrale Purchases 59,423 Shares of Portland General Electric (NYSE:POR)

DekaBank Deutsche Girozentrale raised its stake in Portland General Electric (NYSE:POR) by 315.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 78,278 shares of the utilities provider’s stock after acquiring an additional 59,423 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Portland General Electric were worth $3,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock worth $65,234,000 after purchasing an additional 86,718 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in Portland General Electric by 7.1% in the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares during the period. Victory Capital Management Inc. lifted its holdings in Portland General Electric by 6.9% in the second quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after acquiring an additional 69,392 shares during the period. ProShare Advisors LLC increased its position in Portland General Electric by 1.0% in the first quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider’s stock worth $39,817,000 after buying an additional 9,786 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Portland General Electric in the second quarter worth about $31,557,000.

Portland General Electric Trading Down 0.1 %

Shares of NYSE:POR opened at $47.42 on Friday. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The business’s fifty day simple moving average is $47.85 and its 200-day simple moving average is $45.60. The company has a market capitalization of $5.00 billion, a PE ratio of 14.16, a P/E/G ratio of 1.22 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Portland General Electric will post 3.13 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.22%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. Barclays cut their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.13.

Insider Activity at Portland General Electric

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 22,606 shares of the company’s stock, valued at $1,045,527.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

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.