Portland General Electric (NYSE:POR) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its position in shares of Portland General Electric (NYSE:POR) by 64.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,528 shares of the utilities provider’s stock after selling 17,374 shares during the quarter. Legato Capital Management LLC’s holdings in Portland General Electric were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of POR. Sanctuary Advisors LLC purchased a new stake in shares of Portland General Electric during the second quarter worth about $399,000. Creative Planning grew its holdings in Portland General Electric by 5.4% in the third quarter. Creative Planning now owns 25,426 shares of the utilities provider’s stock valued at $1,218,000 after purchasing an additional 1,297 shares during the period. nVerses Capital LLC purchased a new stake in Portland General Electric in the third quarter valued at approximately $321,000. Trust Co. of Vermont grew its holdings in Portland General Electric by 17.5% in the third quarter. Trust Co. of Vermont now owns 8,071 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 1,202 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in Portland General Electric in the third quarter valued at approximately $25,000.

Portland General Electric Trading Down 1.2 %

NYSE POR opened at $41.62 on Friday. The company’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $45.78. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.39 billion, a P/E ratio of 12.42, a PEG ratio of 1.05 and a beta of 0.61.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%. Portland General Electric’s payout ratio is currently 59.70%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on POR shares. UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Finally, Barclays decreased their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.38.

Portland General Electric 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.