Portland General Electric (NYSE:POR) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Portland General Electric (NYSE:POR) by 4.3% in the third quarter, Holdings Channel reports. The firm owned 83,615 shares of the utilities provider’s stock after purchasing an additional 3,438 shares during the period. Van ECK Associates Corp’s holdings in Portland General Electric were worth $4,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 86,718 shares during the last quarter. HITE Hedge Asset Management LLC raised its stake in Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after acquiring an additional 97,922 shares during the last quarter. Victory Capital Management Inc. raised its stake in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after acquiring an additional 69,392 shares during the last quarter. ProShare Advisors LLC lifted its position in Portland General Electric by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider’s stock worth $39,817,000 after acquiring an additional 9,786 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Portland General Electric during the 2nd quarter valued at about $31,557,000.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on POR. Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI initiated coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.13.

Portland General Electric Trading Up 1.1 %

Shares of Portland General Electric stock opened at $47.02 on Friday. The firm has a 50-day simple moving average of $47.71 and a two-hundred day simple moving average of $45.81. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a market cap of $4.96 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Portland General Electric’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 3.11 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 paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.25%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Portland General Electric Company 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.