Wedge Capital Management L L P NC Sells 16,431 Shares of Portland General Electric (NYSE:POR)

Wedge Capital Management L L P NC lessened its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,045 shares of the utilities provider's stock after selling 16,431 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.12% of Portland General Electric worth $6,038,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Portland General Electric by 767.2% during the 2nd 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 in the last quarter. LRI Investments LLC bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Portland General Electric during the 2nd quarter valued at approximately $33,000. Mather Group LLC. bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $34,000. Finally, Hexagon Capital Partners LLC grew its position in Portland General Electric by 140.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 537 shares during the last quarter.

Portland General Electric Stock Performance

POR stock traded up $0.71 during mid-day trading on Tuesday, reaching $48.26. 1,341,609 shares of the stock traded hands, compared to its average volume of 951,451. The business has a 50-day moving average of $47.41 and a two-hundred day moving average of $45.04. The firm has a market capitalization of $4.97 billion, a PE ratio of 18.49, a P/E/G ratio of 1.30 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.45.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating 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 business had revenue of $758.00 million for the quarter, compared to analysts' expectations of $716.43 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Portland General Electric's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Tuesday, September 24th. Portland General Electric's dividend payout ratio is 76.63%.

Insider Buying and Selling

In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company's stock in a transaction 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 directly owns 22,606 shares of the company's stock, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm'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 owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of the firm's stock in a transaction dated 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 owns 22,606 shares of the company's stock, valued at $1,045,527.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock worth $262,153 in the last three months. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

POR has been the subject of several research reports. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They issued a "hold" rating and a $48.00 target price for the company. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. KeyCorp upgraded Portland General Electric from a "sector weight" rating to an "overweight" rating in a research note on Monday, July 22nd. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price objective on the stock. Finally, Barclays lowered Portland General Electric from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $48.00 to $49.00 in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $47.00.

Portland General Electric 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.