Victory Capital Management Inc. Has $50.44 Million Stake in Portland General Electric (NYSE:POR)

Victory Capital Management Inc. decreased its stake in shares of Portland General Electric (NYSE:POR) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,052,923 shares of the utilities provider’s stock after selling 23,883 shares during the quarter. Victory Capital Management Inc. owned about 1.00% of Portland General Electric worth $50,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Portland General Electric in the 3rd quarter worth $25,000. LRI Investments LLC bought a new position in shares of Portland General Electric in the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV lifted 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 purchasing an additional 514 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Portland General Electric in the 2nd quarter worth $33,000.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on POR. Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. Bank of America began coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their price objective 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 research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.86.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $46.66 on Friday. The company’s 50-day moving average is $47.57 and its 200 day moving average is $45.91. 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 company has a market capitalization of $4.92 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85.

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

Portland General Electric Announces Dividend

The business also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

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.