Portland General Electric (NYSE:POR) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in Portland General Electric (NYSE:POR) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 397,202 shares of the utilities provider’s stock after selling 106,838 shares during the period. Truist Financial Corp’s holdings in Portland General Electric were worth $17,175,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Portland General Electric during the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric during the second quarter worth approximately $33,000. Mather Group LLC. acquired a new stake in Portland General Electric in the first quarter worth approximately $34,000. Finally, Hexagon Capital Partners LLC lifted its position in Portland General Electric by 140.6% in the first quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 537 shares during the period.

Portland General Electric Stock Down 0.4 %

Shares of NYSE:POR opened at $46.58 on Friday. The firm has a 50 day simple moving average of $47.52 and a 200 day simple moving average of $44.76. Portland General Electric has a 52 week low of $39.03 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The company has a market cap of $4.80 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. Portland General Electric’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, research analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. Portland General Electric’s dividend payout ratio is 76.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.78.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’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 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 approximately $688,902.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the company’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 transaction, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,486 shares of company stock valued at $262,153 over the last three months. 0.54% of the stock is owned by corporate insiders.

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.