Gamco Investors INC. ET AL Purchases 3,500 Shares of Portland General Electric (NYSE:POR)

Gamco Investors INC. ET AL increased its position in Portland General Electric (NYSE:POR) by 6.2% in the 1st quarter, HoldingsChannel reports. The fund owned 60,000 shares of the utilities provider’s stock after purchasing an additional 3,500 shares during the period. Gamco Investors INC. ET AL’s holdings in Portland General Electric were worth $2,520,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter valued at about $25,000. Fifth Third Bancorp increased its holdings in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 409 shares during the period. Mather Group LLC. purchased a new stake in Portland General Electric in the 1st quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. bought a new position in Portland General Electric in the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC purchased a new position in shares of Portland General Electric during the 4th quarter valued at about $38,000.

Insiders Place Their Bets

In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the transaction, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of Portland General Electric 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 sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,849 shares of company stock worth $222,492. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Mizuho increased their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Barclays upped their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of “Moderate Buy” and an average target price of $44.86.

Portland General Electric Trading Down 0.9 %

Shares of NYSE POR traded down $0.45 during mid-day trading on Friday, hitting $47.42. The stock had a trading volume of 1,396,296 shares, compared to its average volume of 1,038,488. The business has a 50 day moving average price of $43.96 and a two-hundred day moving average price of $42.47. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $48.95. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The firm has a market cap of $4.89 billion, a P/E ratio of 18.17 and a beta of 0.58.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. On average, equities analysts anticipate that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is 76.63%.

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.