DekaBank Deutsche Girozentrale Acquires 59,423 Shares of Portland General Electric (NYSE:POR)

DekaBank Deutsche Girozentrale grew its stake in Portland General Electric (NYSE:POR - Free Report) by 315.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,278 shares of the utilities provider's stock after buying an additional 59,423 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.08% of Portland General Electric worth $3,703,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System grew its position in Portland General Electric by 2.1% in the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider's stock worth $1,042,000 after acquiring an additional 500 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Portland General Electric by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider's stock worth $5,333,000 after purchasing an additional 335 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Portland General Electric during the 1st quarter valued at about $519,000. BNP Paribas Financial Markets raised its holdings in shares of Portland General Electric by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider's stock valued at $2,504,000 after buying an additional 5,428 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Portland General Electric by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,433 shares of the utilities provider's stock worth $1,362,000 after buying an additional 2,695 shares during the last quarter.

Portland General Electric Trading Down 2.7 %

NYSE POR traded down $1.30 on Friday, hitting $46.10. The company's stock had a trading volume of 1,078,084 shares, compared to its average volume of 954,057. The firm has a market cap of $4.86 billion, a P/E ratio of 14.16, a PEG ratio of 1.21 and a beta of 0.59. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The company's 50-day simple moving average is $47.85 and its 200 day simple moving average is $45.61. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million for the quarter, compared to analysts' expectations of $882.66 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. Research analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.34%. Portland General Electric's dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They set a "hold" rating and a $48.00 price objective on the stock. Finally, KeyCorp upgraded Portland General Electric from a "sector weight" rating to an "overweight" rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and an average target price of $48.13.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company's stock, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP John Teeruk Kochavatr sold 1,100 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the business's stock in a transaction on 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 sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

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.