Hotchkis & Wiley Capital Management LLC Sells 27,025 Shares of Portland General Electric (NYSE:POR)

Hotchkis & Wiley Capital Management LLC cut its holdings in shares of Portland General Electric (NYSE:POR) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 265,100 shares of the utilities provider’s stock after selling 27,025 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Portland General Electric were worth $12,698,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in POR. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric in the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV grew its stake in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying an additional 514 shares during the last quarter. Allworth Financial LP grew its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric in the 2nd quarter valued at about $33,000. Finally, Blue Trust Inc. lifted its position in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 451 shares during the last quarter.

Insider Buying and Selling

In other Portland General Electric 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 transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Portland General Electric Trading Down 0.2 %

POR opened at $47.13 on Wednesday. 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 twelve month low of $39.13 and a twelve month high of $49.85. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.20 and a beta of 0.59. The company has a 50-day simple moving average of $47.38 and a 200 day simple moving average of $46.22.

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, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Analysts predict that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Announces Dividend

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 paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. Portland General Electric’s payout ratio is 59.70%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America began coverage on Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $48.86.

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.