Portland General Electric (NYSE:POR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of Portland General Electric (NYSE:POR - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,052,923 shares of the utilities provider's stock after selling 23,883 shares during the period. Victory Capital Management Inc. owned 1.00% of Portland General Electric worth $50,435,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock worth $30,000 after buying an additional 265 shares during the last quarter. First Pacific Financial raised its position in Portland General Electric by 2.9% in the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider's stock valued at $591,000 after purchasing an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Portland General Electric by 94.5% during the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after purchasing an additional 451 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased 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 worth $25,000 after purchasing an additional 514 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on POR. JPMorgan Chase & Co. upped their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an "underperform" rating and a $47.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a "hold" rating and a $48.00 target price for the company. 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, StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.86.

Portland General Electric Stock Up 1.7 %

Shares of Portland General Electric stock traded up $0.76 during trading hours on Friday, reaching $46.65. 1,042,136 shares of the company were exchanged, compared to its average volume of 954,878. The firm has a market cap of $4.92 billion, a PE ratio of 13.93, a PEG ratio of 1.18 and a beta of 0.59. 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 has a 1 year low of $39.13 and a 1 year high of $49.85. The stock's fifty day moving average is $47.55 and its 200 day moving average is $45.93.

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

Portland General Electric Dividend Announcement

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

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business's stock in a transaction on 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 transaction, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

About Portland General Electric

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.