Burney Co. Sells 1,604 Shares of Portland General Electric (NYSE:POR)

Burney Co. trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,848 shares of the utilities provider’s stock after selling 1,604 shares during the quarter. Burney Co.’s holdings in Portland General Electric were worth $1,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of POR. Vanguard Group Inc. grew its position in Portland General Electric by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares during the period. Goldman Sachs Group Inc. lifted its stake in Portland General Electric by 29.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after purchasing an additional 1,017,503 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Portland General Electric by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock valued at $119,575,000 after purchasing an additional 161,432 shares during the period. Principal Financial Group Inc. grew its holdings in Portland General Electric by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after purchasing an additional 100,496 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Portland General Electric by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after buying an additional 140,151 shares during the last quarter.

Portland General Electric Stock Up 0.1 %

POR opened at $47.67 on Friday. 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 one year low of $38.01 and a one year high of $48.62. The firm has a market capitalization of $4.91 billion, a P/E ratio of 18.26 and a beta of 0.58. The company has a fifty day moving average price of $45.66 and a 200-day moving average price of $43.48.

Portland General Electric (NYSE:POR) last announced 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 for 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 period in the prior year, the company earned $0.44 EPS. Equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a yield of 4.20%. Portland General Electric’s payout ratio is presently 76.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on POR. Barclays increased their price target on Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Mizuho upped their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Finally, StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric has a consensus rating of “Hold” and an average target price of $44.86.

Insiders Place Their Bets

In related news, VP John Teeruk Kochavatr sold 1,100 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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.