Wedge Capital Management L L P NC Sells 85,667 Shares of Portland General Electric (NYSE:POR)

Wedge Capital Management L L P NC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 37.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,476 shares of the utilities provider’s stock after selling 85,667 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of Portland General Electric worth $6,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of POR. Vanguard Group Inc. lifted its stake in Portland General Electric by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after buying an additional 212,981 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Portland General Electric by 29.0% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Portland General Electric by 6.2% in 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 holdings in Portland General Electric by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock worth $85,238,000 after purchasing an additional 100,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Portland General Electric by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after purchasing an additional 140,151 shares in the last quarter.

Portland General Electric Stock Up 0.6 %

POR stock traded up $0.26 during mid-day trading on Friday, reaching $46.60. The company had a trading volume of 28,716 shares, compared to its average volume of 964,753. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 17.75 and a beta of 0.58. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $48.62. The stock has a 50 day simple moving average of $44.74 and a two-hundred day simple moving average of $43.00. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million during 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 firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. As a group, equities analysts predict that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Insider Transactions at Portland General Electric

In related news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the transaction, the vice president now owns 13,996 shares in the company, valued at $630,239.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the transaction, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s 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 directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders have sold 3,949 shares of company stock worth $184,767 in the last ninety days. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on POR. Mizuho boosted their price target on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Barclays boosted their target price on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.