Gamco Investors INC. ET AL Has $2.52 Million Stake in Portland General Electric (NYSE:POR)

Gamco Investors INC. ET AL increased its stake in Portland General Electric (NYSE:POR) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 owned approximately 0.06% of Portland General Electric worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in POR. Leeward Investments LLC MA grew its position in Portland General Electric by 16.9% in the fourth quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider’s stock valued at $23,694,000 after purchasing an additional 79,052 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Portland General Electric by 205.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock worth $3,338,000 after acquiring an additional 52,620 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Portland General Electric during the fourth quarter valued at approximately $3,644,000. Jump Financial LLC bought a new position in Portland General Electric in the fourth quarter valued at approximately $1,788,000. Finally, Principal Financial Group Inc. raised its stake in shares of Portland General Electric by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock worth $85,238,000 after purchasing an additional 100,496 shares in the last quarter.

Insider Buying and Selling at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the 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 sale, the senior vice president now owns 16,763 shares of the company’s stock, valued at $742,600.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of Portland General Electric stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The disclosure for this sale can be found here. Insiders sold 4,849 shares of company stock valued at $222,492 in the last quarter. Company insiders own 0.54% of the company’s stock.

Portland General Electric Stock Performance

POR stock traded down $0.45 during mid-day trading on Friday, hitting $47.42. 1,396,296 shares of the company were exchanged, compared to its average volume of 1,038,488. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $48.95. The stock has a market capitalization of $4.89 billion, a PE ratio of 18.17 and a beta of 0.58. The business has a 50 day simple moving average of $43.96 and a 200-day simple moving average of $42.47. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34.

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, topping the consensus estimate of $0.67 by $0.02. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. During the same period last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that Portland General Electric will post 3.08 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 4.22%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Analyst Ratings Changes

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

Portland General Electric Company 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.