LGT Financial Advisors LLC Cuts Stake in Portland General Electric (NYSE:POR)

LGT Financial Advisors LLC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 61.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,307 shares of the utilities provider’s stock after selling 2,056 shares during the period. LGT Financial Advisors LLC’s holdings in Portland General Electric were worth $57,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in shares of Portland General Electric by 39.3% during the first quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. New York State Teachers Retirement System increased its stake in Portland General Electric by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock valued at $1,011,000 after purchasing an additional 300 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Portland General Electric by 1.4% in the fourth quarter. Van ECK Associates Corp now owns 22,856 shares of the utilities provider’s stock worth $991,000 after buying an additional 321 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Portland General Electric by 0.3% during the first quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock worth $5,333,000 after buying an additional 335 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after buying an additional 451 shares during the last quarter.

Insider Activity

In related news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 0.9 %

Shares of POR stock opened at $48.43 on Friday. 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 twelve month low of $38.01 and a twelve month high of $49.26. The stock has a 50 day moving average of $46.13 and a 200 day moving average of $43.72. The stock has a market cap of $4.99 billion, a P/E ratio of 18.56 and a beta of 0.59.

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

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is currently 76.63%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Mizuho lifted their price target on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Barclays upped their target price on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.86.

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.