Natixis Advisors LLC Has $13.51 Million Stake in Portland General Electric (NYSE:POR)

Natixis Advisors LLC grew its stake in Portland General Electric (NYSE:POR) by 91.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,313 shares of the utilities provider’s stock after purchasing an additional 149,429 shares during the period. Natixis Advisors LLC owned about 0.30% of Portland General Electric worth $13,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in POR. Van ECK Associates Corp boosted its position in Portland General Electric by 1.4% in the fourth quarter. Van ECK Associates Corp now owns 22,856 shares of the utilities provider’s stock valued at $991,000 after buying an additional 321 shares in the last quarter. Natixis Advisors L.P. grew its position in Portland General Electric by 220.8% during the 4th quarter. Natixis Advisors L.P. now owns 189,371 shares of the utilities provider’s stock worth $8,207,000 after acquiring an additional 130,343 shares during the last quarter. Amalgamated Bank grew its position in Portland General Electric by 0.8% during the 4th quarter. Amalgamated Bank now owns 58,550 shares of the utilities provider’s stock worth $2,538,000 after acquiring an additional 490 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Portland General Electric in the 4th quarter worth about $86,000. Finally, M&T Bank Corp raised its position in Portland General Electric by 73.3% in the fourth quarter. M&T Bank Corp now owns 18,459 shares of the utilities provider’s stock valued at $800,000 after purchasing an additional 7,808 shares during the last quarter.

Portland General Electric Stock Performance

POR stock opened at $48.88 on Thursday. The firm has a market cap of $5.04 billion, a PE ratio of 18.73 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $46.01 and a 200-day moving average price of $43.68. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $48.94.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm 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 revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on POR. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Barclays boosted their target price on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, Mizuho lifted their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. One 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 company’s stock. According to MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $44.86.

Insider Buying and Selling at Portland General Electric

In other 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 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 approximately $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction 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 transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

About Portland General Electric

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.