Phocas Financial Corp. Boosts Stake in Portland General Electric (NYSE:POR)

Phocas Financial Corp. lifted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,787 shares of the utilities provider's stock after purchasing an additional 29,554 shares during the quarter. Phocas Financial Corp. owned 0.18% of Portland General Electric worth $9,282,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock valued at $65,234,000 after buying an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in shares of Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock valued at $64,216,000 after buying an additional 97,922 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Portland General Electric by 72.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider's stock valued at $60,346,000 after buying an additional 530,020 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider's stock valued at $46,561,000 after buying an additional 69,392 shares in the last quarter. Finally, Leeward Investments LLC MA raised its holdings in shares of Portland General Electric by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 553,673 shares of the utilities provider's stock valued at $23,941,000 after buying an additional 29,441 shares in the last quarter.

Insider Activity at Portland General Electric

In other Portland General Electric news, 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 sale, the senior vice president now directly owns 14,263 shares of the company's stock, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Portland General Electric Trading Down 0.3 %

Shares of POR stock traded down $0.12 during trading hours on Tuesday, reaching $46.66. The company's stock had a trading volume of 257,248 shares, compared to its average volume of 954,637. 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 has a one year low of $39.13 and a one year high of $49.85. The stock has a market capitalization of $4.92 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.19 and a beta of 0.59. The firm's fifty day simple moving average is $47.52 and its 200 day simple moving average is $45.98.

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 return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the company posted $0.46 earnings per share. The firm's revenue was up 15.8% on a year-over-year basis. Equities research analysts expect that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. Portland General Electric's dividend payout ratio is presently 59.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. KeyCorp raised Portland General Electric from a "sector weight" rating to an "overweight" rating in a research note on Monday, July 22nd. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 price target on the stock. Barclays decreased their price target on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Finally, Bank of America assumed 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. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $48.86.

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.