Thrivent Financial for Lutherans Sells 320,517 Shares of Portland General Electric (NYSE:POR)

Thrivent Financial for Lutherans lowered its position in Portland General Electric (NYSE:POR) by 29.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 757,605 shares of the utilities provider’s stock after selling 320,517 shares during the period. Thrivent Financial for Lutherans owned 0.72% of Portland General Electric worth $36,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC increased its position in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after acquiring an additional 530,020 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Portland General Electric by 6.9% during the second quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after acquiring an additional 69,392 shares during the last quarter. Finally, Leeward Investments LLC MA increased its position in shares of Portland General Electric by 5.6% during the second quarter. Leeward Investments LLC MA now owns 553,673 shares of the utilities provider’s stock valued at $23,941,000 after acquiring an additional 29,441 shares during the last quarter.

Portland General Electric Stock Up 0.3 %

POR stock opened at $46.78 on Tuesday. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The business’s 50 day moving average price is $47.55 and its two-hundred day moving average price is $45.96. 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 $4.93 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

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

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.28%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Ratings Changes

POR has been the subject of a number of research analyst reports. Evercore ISI started coverage on Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average target price of $48.86.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.