Congress Asset Management Co. Decreases Stock Holdings in Portland General Electric (NYSE:POR)

Congress Asset Management Co. reduced its stake in shares of Portland General Electric (NYSE:POR) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,883 shares of the utilities provider’s stock after selling 1,228 shares during the period. Congress Asset Management Co. owned 0.12% of Portland General Electric worth $5,838,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in POR. State of Michigan Retirement System grew its holdings in shares of Portland General Electric by 2.1% in the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after purchasing an additional 500 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Portland General Electric by 0.3% during the 1st 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 last quarter. Private Advisor Group LLC purchased a new stake in shares of Portland General Electric during the 1st quarter valued at approximately $519,000. BNP Paribas Financial Markets lifted its holdings in Portland General Electric by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider’s stock valued at $2,504,000 after acquiring an additional 5,428 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Portland General Electric by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 32,433 shares of the utilities provider’s stock valued at $1,362,000 after acquiring an additional 2,695 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have commented on POR shares. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI assumed coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lowered their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.13.

Insider Buying and Selling

In other Portland General Electric 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 transaction of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the 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 transaction, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. 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 available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Performance

NYSE:POR opened at $46.10 on Friday. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a fifty day simple moving average of $47.85 and a two-hundred day simple moving average of $45.61.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter last year, the company earned $0.46 EPS. Portland General Electric’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.34%. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

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.