Castellan Group Raises Position in Portland General Electric Company $POR

Castellan Group raised its holdings in shares of Portland General Electric Company (NYSE:POR) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,420 shares of the utilities provider’s stock after acquiring an additional 5,487 shares during the quarter. Portland General Electric makes up 0.6% of Castellan Group’s portfolio, making the stock its 15th largest holding. Castellan Group owned 0.07% of Portland General Electric worth $3,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric during the 1st quarter valued at $27,000. IFP Advisors Inc raised its position in shares of Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Private Trust Co. NA raised its position in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 244 shares during the period. Global X Japan Co. Ltd. raised its position in shares of Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 345 shares during the period. Finally, S.A. Mason LLC bought a new stake in Portland General Electric in the 2nd quarter valued at $29,000.

Portland General Electric Trading Down 0.2%

Shares of Portland General Electric stock opened at $43.81 on Friday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 4.01 and a beta of 0.62. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85. The firm’s 50 day simple moving average is $42.71 and its two-hundred day simple moving average is $42.09. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 4.8%. Portland General Electric’s dividend payout ratio is 77.49%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.40.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company’s stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total transaction of $803,080.00. Following the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,436 shares of company stock valued at $988,388. Corporate insiders own 0.40% of the company’s stock.

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.