Janus Henderson Group PLC Sells 6,700 Shares of Portland General Electric (NYSE:POR)

Janus Henderson Group PLC lowered its stake in Portland General Electric (NYSE:POR) by 13.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,432 shares of the utilities provider’s stock after selling 6,700 shares during the period. Janus Henderson Group PLC’s holdings in Portland General Electric were worth $2,128,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of POR. Vaughan Nelson Investment Management L.P. bought a new position in shares of Portland General Electric in the second quarter worth $31,557,000. Marshall Wace LLP increased its stake in shares of Portland General Electric by 657.0% in the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after purchasing an additional 273,118 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of Portland General Electric by 83.4% in the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after purchasing an additional 193,164 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Portland General Electric in the 2nd quarter valued at $7,459,000. Finally, Natixis Advisors LLC increased its stake in shares of Portland General Electric by 91.7% in the 2nd quarter. Natixis Advisors LLC now owns 312,313 shares of the utilities provider’s stock valued at $13,505,000 after purchasing an additional 149,429 shares during the last quarter.

Portland General Electric Stock Performance

Shares of POR stock opened at $44.53 on Friday. The business’s 50 day simple moving average is $47.13 and its 200 day simple moving average is $46.26. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The stock has a market capitalization of $4.70 billion, a PE ratio of 13.29, a PEG ratio of 1.17 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating 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 business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. As a group, research analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced 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 is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. Portland General Electric’s payout ratio is 59.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POR. Bank of America began coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Evercore ISI assumed coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. Barclays decreased their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. KeyCorp decreased their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and an average price target of $49.13.

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.