Wellington Management Group LLP Reduces Position in Portland General Electric (NYSE:POR)

Wellington Management Group LLP lowered its stake in Portland General Electric (NYSE:POR - Free Report) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,049,172 shares of the utilities provider's stock after selling 90,214 shares during the period. Wellington Management Group LLP owned approximately 0.99% of Portland General Electric worth $50,255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Portland General Electric during the second quarter valued at approximately $31,557,000. Qsemble Capital Management LP bought a new stake in shares of Portland General Electric during the second quarter valued at approximately $678,000. Choreo LLC bought a new stake in shares of Portland General Electric during the second quarter valued at approximately $965,000. Citigroup Inc. raised its stake in shares of Portland General Electric by 43.5% during the third quarter. Citigroup Inc. now owns 183,044 shares of the utilities provider's stock valued at $8,768,000 after acquiring an additional 55,529 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock valued at $64,216,000 after acquiring an additional 97,922 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an "underperform" rating and a $47.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. KeyCorp decreased their price target on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Barclays decreased their price target on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.13.

Portland General Electric Stock Down 0.6 %

NYSE:POR traded down $0.26 during trading hours on Thursday, reaching $44.90. The company's stock had a trading volume of 970,668 shares, compared to its average volume of 943,475. The company has a market capitalization of $4.73 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.17 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 company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a 50 day moving average price of $47.17 and a two-hundred day moving average price of $46.27.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The business 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 business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. Equities analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared 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 4.45%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's payout ratio is presently 59.70%.

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.