Portland General Electric (NYSE:POR) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in shares of Portland General Electric (NYSE:POR) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,045 shares of the utilities provider’s stock after selling 16,431 shares during the period. Wedge Capital Management L L P NC owned 0.12% of Portland General Electric worth $6,038,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Oliver Luxxe Assets LLC grew its stake in shares of Portland General Electric by 40.8% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 97,019 shares of the utilities provider’s stock valued at $4,647,000 after buying an additional 28,097 shares during the period. Viking Fund Management LLC purchased a new stake in Portland General Electric during the third quarter valued at about $192,000. Birch Hill Investment Advisors LLC acquired a new stake in Portland General Electric during the third quarter worth about $214,000. City State Bank acquired a new stake in Portland General Electric during the third quarter worth about $101,000. Finally, GAMMA Investing LLC raised its holdings in shares of Portland General Electric by 72.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,648 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 1,951 shares during the period.

Portland General Electric Stock Performance

Shares of POR stock opened at $47.55 on Tuesday. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.30 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The company’s 50-day simple moving average is $47.41 and its 200-day simple moving average is $45.04. 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) last posted its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating 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 business 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 company posted $0.44 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Tuesday, September 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Insider Activity at Portland General Electric

In other Portland General Electric 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 value of $50,875.00. Following the sale, the vice president now owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,486 shares of company stock worth $262,153 in the last ninety days. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

POR has been the subject of a number of research analyst reports. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.00.

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.