Portland General Electric (NYSE:POR) stake was reduced by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its holdings in shares of Portland General Electric (NYSE:POR – Free Report) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,689 shares of the utilities provider’s stock after selling 12,708 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Portland General Electric were worth $3,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Choreo LLC acquired a new stake in shares of Portland General Electric in the second quarter valued at about $965,000. Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric in the second quarter valued at about $33,000. Fox Hill Wealth Management boosted its position in shares of Portland General Electric by 7.7% in the second quarter. Fox Hill Wealth Management now owns 29,068 shares of the utilities provider’s stock valued at $1,257,000 after acquiring an additional 2,077 shares during the period. Quest Partners LLC bought a new stake in shares of Portland General Electric in the second quarter valued at about $40,000. Finally, Private Advisor Group LLC boosted its position in shares of Portland General Electric by 39.5% in the second quarter. Private Advisor Group LLC now owns 17,230 shares of the utilities provider’s stock valued at $745,000 after acquiring an additional 4,879 shares during the period.

Insider work at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 over the last ninety days. 0.54% of shares are owned by company insiders.

Portland General Electric stock rose 2.2%

Shares of Portland General Electric stock opened at $48.59 on Friday. The firm has a market cap of $5.01 billion, a PE ratio of 18.62 and a beta of 0.59. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.26. The company’s 50-day simple moving average is $46.89, and its 200-day simple moving average is $44.07. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86, and a current ratio of 1.00.

Portland General Electric (NYSE:POR – Get Your Free Report ) last released its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. During the same period in the previous year, the company posted EPS of $0.44. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 24. This represents an annualized dividend of $2.00 and a yield of 4.12%. Portland General Electric’s dividend payout ratio (DPR) is currently 76.63%.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently commented on the company. Bank of America assumed coverage on Portland General Electric in a research note on Thursday. They issued an “underperform” rating and a $47.00 price target for the company. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Barclays boosted their target price on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.43, according to MarketBeat.com.

Check out our latest research report on Portland General Electric

Portland General Electric Profile

(Free Report)

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution and retail sale of electric power in the state of Oregon. It operates six thermal power 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.

Featured stories

Want to see what other hedge funds own ROP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Portland General Electric (NYSE:POR – Free Report).

Get news and reviews for the Portland General Electric Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Portland General Electric and related companies with MarketBeat.com’s FREE daily email newsletter.