Glenmede Trust Co. NA Acquires 2,371 Shares of Portland General Electric (NYSE:POR)

Glenmede Trust Co. NA raised its stake in shares of Portland General Electric (NYSE:POR) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,945 shares of the utilities provider’s stock after buying an additional 2,371 shares during the period. Glenmede Trust Co. NA’s holdings in Portland General Electric were worth $15,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Portland General Electric by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,603 shares of the utilities provider’s stock valued at $2,210,000 after acquiring an additional 3,703 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Portland General Electric in the first quarter valued at approximately $277,000. Jane Street Group LLC lifted its stake in shares of Portland General Electric by 274.5% in the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock worth $8,303,000 after buying an additional 144,900 shares during the last quarter. Tidal Investments LLC grew its stake in Portland General Electric by 3.6% in the 1st quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider’s stock valued at $801,000 after buying an additional 662 shares during the last quarter. Finally, Comerica Bank raised its holdings in Portland General Electric by 5.7% in the 1st quarter. Comerica Bank now owns 172,504 shares of the utilities provider’s stock worth $7,245,000 after acquiring an additional 9,239 shares during the period.

Portland General Electric Trading Up 0.7 %

Shares of Portland General Electric stock opened at $48.06 on Friday. The company’s fifty day moving average price is $47.40 and its two-hundred day moving average price is $46.14. The firm has a market capitalization of $5.07 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (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 analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts expect that Portland General Electric will post 3.12 EPS 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. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on POR shares. Bank of America initiated coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Barclays dropped 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 report on Tuesday, October 29th. Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. Finally, StockNews.com raised shares of 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 issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.86.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated 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 in the company, valued at $688,902.90. This trade represents a 14.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Portland General Electric 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.