Ameritas Investment Partners Inc. Cuts Stake in Portland General Electric (NYSE:POR)

Ameritas Investment Partners Inc. decreased its holdings in Portland General Electric (NYSE:POR) by 0.9% in the first quarter, Holdings Channel.com reports. The firm owned 32,575 shares of the utilities provider’s stock after selling 285 shares during the period. Ameritas Investment Partners Inc.’s holdings in Portland General Electric were worth $1,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in Portland General Electric during the 4th quarter valued at $25,000. Fifth Third Bancorp raised its holdings in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after buying an additional 409 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Portland General Electric during the 4th quarter valued at $33,000. Mather Group LLC. bought a new stake in Portland General Electric during the 1st quarter valued at $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Portland General Electric during the 4th quarter valued at $38,000.

Insider Activity

In related news, VP Brett Michael Sims sold 963 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the transaction, the vice president now owns 13,996 shares in the company, valued at approximately $630,239.88. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Brett Michael Sims sold 963 shares of the 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 transaction, the vice president now owns 13,996 shares in the company, valued at approximately $630,239.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the transaction, the senior vice president now owns 16,763 shares in the company, valued at approximately $742,600.90. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Monday. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Mizuho upped their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.86.

Portland General Electric Price Performance

Shares of POR stock traded up $1.25 during mid-day trading on Wednesday, hitting $48.01. The company had a trading volume of 618,608 shares, compared to its average volume of 961,368. The stock’s 50 day moving average price is $43.79 and its 200-day moving average price is $42.37. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $49.72. The company has a market capitalization of $4.95 billion, a P/E ratio of 18.38 and a beta of 0.58. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. Portland General Electric’s quarterly revenue was up 24.2% on a year-over-year basis. Equities research analysts forecast that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. Portland General Electric’s dividend payout ratio (DPR) is currently 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.