Oppenheimer Asset Management Inc. Purchases 3,012 Shares of Portland General Electric (NYSE:POR)

Oppenheimer Asset Management Inc. boosted its position in Portland General Electric (NYSE:POR) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,221 shares of the utilities provider’s stock after purchasing an additional 3,012 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Portland General Electric were worth $831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in POR. Vanguard Group Inc. boosted its position in shares of Portland General Electric by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after acquiring an additional 212,981 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Portland General Electric by 29.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after purchasing an additional 1,017,503 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Portland General Electric by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after purchasing an additional 140,151 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Portland General Electric by 24.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Portland General Electric by 6.9% in the second 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.

Insider Transactions 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 value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric 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 sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The disclosure for this sale can be found here. Insiders sold a total of 5,486 shares of company stock worth $262,153 over the last three months. 0.54% of the stock is owned by company insiders.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $47.88 on Friday. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 18.34 and a beta of 0.59. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.45. The company’s fifty day moving average is $47.32 and its 200 day moving average is $44.27. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The business’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. Sell-side analysts forecast that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $48.00 to $49.00 in a research report on Wednesday. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.57.

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.