Whittier Trust Co. Increases Position in Portland General Electric (NYSE:POR)

Whittier Trust Co. raised its holdings in shares of Portland General Electric (NYSE:POR) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,346 shares of the utilities provider’s stock after purchasing an additional 4,838 shares during the quarter. Whittier Trust Co.’s holdings in Portland General Electric were worth $4,998,000 at the end of the most recent quarter.

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

Portland General Electric Stock Performance

Shares of POR stock opened at $48.50 on Tuesday. The business’s fifty day simple moving average is $47.61 and its 200-day simple moving average is $45.27. The company has a market cap of $5.00 billion, a PE ratio of 18.58, a PEG ratio of 1.34 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. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.45.

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, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.12%. Portland General Electric’s payout ratio is presently 76.63%.

Insider Transactions at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. This represents 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 this hyperlink. In other news, 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 directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,486 shares of company stock valued at $262,153. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on POR shares. Jefferies Financial Group started coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price target for the company. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Bank of America began 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 objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.29.

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.