Federated Hermes Inc. Acquires 27,537 Shares of Portland General Electric (NYSE:POR)

Federated Hermes Inc. increased its stake in Portland General Electric (NYSE:POR - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,893 shares of the utilities provider's stock after purchasing an additional 27,537 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Portland General Electric worth $7,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in POR. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $29,000. Versant Capital Management Inc lifted its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric in the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after acquiring an additional 1,096 shares in the last quarter.

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Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on POR. Evercore ISI increased their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. StockNews.com downgraded Portland General Electric from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Jefferies Financial Group cut their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $45.78.

Portland General Electric Price Performance

Shares of POR stock traded up $0.08 during trading hours on Tuesday, reaching $43.33. The company's stock had a trading volume of 550,761 shares, compared to its average volume of 1,028,612. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.11 and a beta of 0.49. The firm's 50 day simple moving average is $43.38 and its 200-day simple moving average is $44.56.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.62%. Portland General Electric's dividend payout ratio (DPR) is currently 66.45%.

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.