Boston Partners Raises Position in Portland General Electric (NYSE:POR)

Boston Partners raised its position in Portland General Electric (NYSE:POR) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,328 shares of the utilities provider’s stock after acquiring an additional 8,743 shares during the quarter. Boston Partners owned approximately 0.29% of Portland General Electric worth $12,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after acquiring an additional 212,981 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 1,017,503 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Portland General Electric by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock worth $119,575,000 after purchasing an additional 161,432 shares during the period. Principal Financial Group Inc. increased its stake in Portland General Electric by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock valued at $85,238,000 after purchasing an additional 100,496 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Portland General Electric by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock valued at $61,554,000 after buying an additional 140,151 shares during the last quarter.

Insider Activity at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of Portland General Electric stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the transaction, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brett Michael Sims sold 963 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total value of $43,363.89. Following the sale, the vice president now owns 13,996 shares in the company, valued at $630,239.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,849 shares of company stock worth $222,492. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on POR. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays boosted their target price on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Finally, Mizuho boosted their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.86.

Portland General Electric Price Performance

Shares of NYSE POR traded up $0.08 on Friday, hitting $48.03. The company’s stock had a trading volume of 1,142,623 shares, compared to its average volume of 1,023,614. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a 50 day moving average of $44.26 and a 200-day moving average of $42.63. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $48.62. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 18.40 and a beta of 0.58.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.44 EPS. Portland General Electric’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts predict that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. Portland General Electric’s payout ratio is 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.