Portland General Electric (NYSE:POR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Portland General Electric (NYSE:POR - Free Report) by 29.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757,605 shares of the utilities provider's stock after selling 320,517 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.72% of Portland General Electric worth $36,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of POR. SG Americas Securities LLC raised its holdings in Portland General Electric by 25.9% in the 1st quarter. SG Americas Securities LLC now owns 6,994 shares of the utilities provider's stock valued at $294,000 after acquiring an additional 1,439 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Portland General Electric by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 140,826 shares of the utilities provider's stock worth $5,915,000 after purchasing an additional 5,603 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Portland General Electric by 4.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,109 shares of the utilities provider's stock worth $1,223,000 after acquiring an additional 1,370 shares during the period. Clearbridge Investments LLC boosted its holdings in Portland General Electric by 13.1% during the first quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider's stock worth $20,175,000 after buying an additional 55,555 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Portland General Electric in the first quarter valued at approximately $258,000.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction that occurred 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 owns 14,263 shares in the company, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Performance

Shares of NYSE POR traded down $0.12 during trading on Tuesday, hitting $46.66. The company had a trading volume of 257,248 shares, compared to its average volume of 954,637. The firm has a market capitalization of $4.92 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The stock has a 50 day simple moving average of $47.52 and a 200 day simple moving average of $45.98. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

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

Portland General Electric Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on POR. Bank of America assumed coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an "underperform" rating and a $47.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. KeyCorp raised shares of Portland General Electric from a "sector weight" rating to an "overweight" rating in a report on Monday, July 22nd. Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a "hold" rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.