Whittier Trust Co. Grows Stake in Portland General Electric (NYSE:POR)

Whittier Trust Co. lifted its position in Portland General Electric (NYSE:POR) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,346 shares of the utilities provider’s stock after buying an additional 4,838 shares during the period. Whittier Trust Co. owned approximately 0.10% of Portland General Electric worth $4,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Portland General Electric in the 3rd quarter worth $595,000. Blue Trust Inc. raised its holdings in Portland General Electric by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 2,195 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,267 shares during the period. V Square Quantitative Management LLC bought a new position in Portland General Electric in the 3rd quarter worth $25,000. Trust Co. of Vermont raised its holdings in Portland General Electric by 17.5% in the 3rd quarter. Trust Co. of Vermont now owns 8,071 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 1,202 shares during the period. Finally, nVerses Capital LLC bought a new position in Portland General Electric in the 3rd quarter worth $321,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on POR. Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. Finally, Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.29.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 14,263 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric 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 owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was 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 owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,486 shares of company stock worth $262,153. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 0.2 %

Shares of POR stock opened at $48.50 on Tuesday. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.45. 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’s 50-day moving average price is $47.61 and its 200-day moving average price is $45.27. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.34 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

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.