Whittier Trust Co. of Nevada Inc. Increases Stock Position in Portland General Electric (NYSE:POR)

Whittier Trust Co. of Nevada Inc. boosted its stake in Portland General Electric (NYSE:POR) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,222 shares of the utilities provider’s stock after acquiring an additional 1,944 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.05% of Portland General Electric worth $2,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Johnson Financial Group Inc. purchased a new stake in shares of Portland General Electric in the fourth quarter valued at about $25,000. LRI Investments LLC purchased a new stake in shares of Portland General Electric in the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Portland General Electric by 767.2% in the second 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. Mather Group LLC. purchased a new stake in shares of Portland General Electric in the first quarter valued at about $34,000. Finally, Fifth Third Bancorp raised its holdings in shares of Portland General Electric by 39.3% in the first quarter. Fifth Third Bancorp now owns 883 shares of the utilities provider’s stock valued at $37,000 after buying an additional 249 shares during the last quarter.

Insider Activity

In related news, 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 transaction of $50,875.00. Following the sale, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of research reports. Mizuho upped their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Barclays increased their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $44.86.

Portland General Electric Price Performance

POR traded up $0.11 on Thursday, hitting $47.72. 193,724 shares of the company were exchanged, compared to its average volume of 950,513. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The business’s fifty day moving average is $45.56 and its 200 day moving average is $43.45. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $48.62. The firm has a market capitalization of $4.92 billion, a P/E ratio of 18.26 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping 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 company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. Portland General Electric’s dividend payout ratio is presently 76.63%.

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.