Huber Capital Management LLC Sells 1,109 Shares of Portland General Electric (NYSE:POR)

Huber Capital Management LLC decreased its holdings in Portland General Electric (NYSE:POR) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 31,061 shares of the utilities provider’s stock after selling 1,109 shares during the quarter. Huber Capital Management LLC’s holdings in Portland General Electric were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of 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 period. Norges Bank bought a new position in Portland General Electric in the 4th quarter valued at about $39,112,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Portland General Electric during the second quarter worth approximately $31,557,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Portland General Electric in the fourth quarter valued at approximately $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Portland General Electric by 24.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 shares during the period.

Analyst Ratings Changes

Several analysts recently issued reports on POR shares. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday. They issued a “hold” rating and a $48.00 price target for the company. Bank of America initiated coverage on shares of 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. Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $49.00 in a research note on Wednesday. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.88.

Insider Buying and Selling

In other 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 transaction 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 link. In other Portland General Electric news, 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 directly owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on 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 owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock worth $262,153 in the last three months. 0.54% of the stock is owned by corporate insiders.

Portland General Electric Stock Down 0.4 %

NYSE POR opened at $47.70 on Friday. The business has a fifty day moving average price of $47.37 and a two-hundred day moving average price of $44.32. The stock has a market capitalization of $4.91 billion, a PE ratio of 18.28, a PEG ratio of 1.38 and a beta of 0.59. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.45. 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 (NYSE:POR) last released its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same period last year, the firm posted $0.44 earnings per share. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

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.