Martin Capital Buys Into Portland General Electric’s Defensive Power Play
Key Points
Martin Capital Partners bought 109,347 shares of Portland General Electric in a new position, with an estimated transaction value of $4.81 million.
Transaction represents 1.8662% of Martin Capital Partners’ 13F assets under management.
Post-trade stake: 109,347 shares valued at $4.81 million as of September 30, 2025.
The position accounts for 1.8662% of AUM, which places it outside the fund’s top five holdings.
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On October 3, 2025, Martin Capital Partners, LLC disclosed a new position in Portland General Electric(NYSE:POR), acquiring 109,347 shares in an estimated $4.81 million trade.
What happened
According to an SEC Filing dated October 3, 2025, Martin Capital Partners, LLC disclosed a new stake in Portland General Electric(NYSE:POR). The fund reported acquiring 109,347 shares, with an estimated transaction value of $4.81 million based on the period’s average share price.
What else to know
This new position makes up 1.8662% of the fund’s 13F reportable assets under management as of September 30, 2025.
Top holdings after the filing:
- NASDAQ:AMGN: $8.50 million (3.3% of AUM), as of September 30, 2025
- NASDAQ:CME: $8,413,000 (3.3% of AUM), as of September 30, 2025
- NYSE:CFR: $8,363,000 (3.2% of AUM), as of September 30, 2025
- NASDAQ:ASML: $8,286,000 (3.2% of AUM), as of September 30, 2025
- NASDAQ:MSFT: $8,201,000 (3.2% of AUM), as of September 30, 2025
As of October 3, 2025, shares of Portland General Electric were priced at $43.17, reflecting a one-year change of -7.70% and underperforming the S&P 500 by 22.35 percentage points over the past year (price-change basis, ex-dividends).
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.49 billion |
| Net Income (TTM) | $294.00 million |
| Dividend Yield | 4.69% |
| Price (as of market close October 3, 2025) | $43.17 |
Company Snapshot
Provides electricity generation, transmission, distribution, and retail sales in Oregon, and operates thermal, wind, and hydroelectric facilities.
Operates as a regulated electric utility, earning revenue through the sale of electricity to residential, commercial, and industrial customers, as well as limited wholesale energy transactions.
Serves approximately 917,000 customers across 51 cities, including households, businesses, and industrial clients in Oregon.
Portland General Electric is a leading regulated electric utility in Oregon, managing a diverse portfolio of power generation assets and an extensive transmission and distribution network.
Foolish take
Martin Capital’s new stake in Portland General Electric signals an investment in stability. Utilities like PGE have underperformed the market this year as higher interest rates pressured dividend stocks, however that pullback has left valuations more reasonable for long-term investors.
By adding Portland General Electric(NYSE:POR), Martin Capital appears to be balancing its growth-oriented portfolio with a defensive income play. The Oregon-based utility generates steady cash flow from regulated operations and offers a reliable dividend yield that can help cushion returns if market volatility continues.
In its recent July earnings report, PGE reaffirmed its 2025 guidance and reported stronger industrial demand, especially from semiconductor and data center clients. The company is also investing in renewable generation and grid modernization projects that could support long-term earnings growth. For investors, PGE offers a mix of dependable income and emerging growth potential. If its industrial demand continues to build and management executes on its modernization plans, this Oregon utility will quietly reward patient shareholders in the years ahead.
Glossary
13F AUM:The total value of assets a fund must report quarterly to the Securities and Exchange Commission, covering certain U.S. securities.
Assets Under Management (AUM):The total market value of investments managed by a fund or investment firm.
Regulated electric utility:A company whose rates and operations are overseen by government agencies to ensure reliable, affordable service.
Stake:The ownership interest or investment a person or entity holds in a company.
Wholesale energy transactions:The buying and selling of electricity in large quantities, typically between utilities or energy companies, not end consumers.
Dividend Yield:A financial ratio showing how much a company pays in dividends each year relative to its share price.
TTM:The 12-month period ending with the most recent quarterly report.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML, Amgen, and Microsoft. The Motley Fool recommends CME Group and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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