Mutual of America Capital Management LLC Reduces Holdings in Portland General Electric (NYSE:POR)

Mutual of America Capital Management LLC lowered its holdings in Portland General Electric (NYSE:POR) by 42.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,260 shares of the utilities provider’s stock after selling 64,318 shares during the period. Mutual of America Capital Management LLC owned about 0.09% of Portland General Electric worth $3,816,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. LRI Investments LLC acquired a new stake in Portland General Electric during the 1st quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the 2nd quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric during the first quarter valued at $34,000.

Analysts Set New Price Targets

POR has been the subject of several recent research reports. Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target for the company. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $48.00 to $49.00 in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday. They set a “hold” rating and a $48.00 price objective on the stock. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.88.

Portland General Electric Stock Performance

Shares of POR opened at $47.70 on Monday. The firm’s fifty day simple moving average is $47.37 and its two-hundred day simple moving average is $44.38. The stock has a market capitalization of $4.91 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.45.

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

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. Portland General Electric’s dividend payout ratio is presently 76.63%.

Insider Activity

In other news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares in the company, valued at $1,446,816. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is currently owned by 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.