Channing Capital Management LLC Has $71.24 Million Stake in Portland General Electric Company $POR

Channing Capital Management LLC lowered its stake in shares of Portland General Electric Company (NYSE:POR) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,597,380 shares of the utilities provider’s stock after selling 234,484 shares during the quarter. Portland General Electric comprises approximately 2.2% of Channing Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Channing Capital Management LLC’s holdings in Portland General Electric were worth $71,243,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Martingale Asset Management L P grew its position in Portland General Electric by 15.5% during the first quarter. Martingale Asset Management L P now owns 75,489 shares of the utilities provider’s stock worth $3,367,000 after buying an additional 10,136 shares in the last quarter. Capital Fund Management S.A. grew its position in Portland General Electric by 178.5% during the first quarter. Capital Fund Management S.A. now owns 84,505 shares of the utilities provider’s stock worth $3,769,000 after buying an additional 54,160 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Portland General Electric during the first quarter worth approximately $254,000. Van Lanschot Kempen Investment Management N.V. grew its position in Portland General Electric by 14.5% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 133,400 shares of the utilities provider’s stock worth $5,950,000 after buying an additional 16,856 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Portland General Electric by 404.2% during the first quarter. Hsbc Holdings PLC now owns 46,981 shares of the utilities provider’s stock worth $2,087,000 after buying an additional 37,663 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. This represents a 12.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the transaction, the chief financial officer owned 27,089 shares of the company’s stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on POR shares. Evercore ISI reduced their price target on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Wall Street Zen raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Barclays reduced their target price on Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. Finally, UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and raised their target price for the company from $47.00 to $50.00 in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric Trading Down 0.4%

Shares of POR stock opened at $42.4750 on Thursday. The stock’s fifty day moving average price is $41.16 and its two-hundred day moving average price is $42.22. The company has a market cap of $4.65 billion, a PE ratio of 15.67, a P/E/G ratio of 3.90 and a beta of 0.55. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97.

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

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Thursday, September 25th. Portland General Electric’s dividend payout ratio is presently 77.49%.

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.