Portland General Electric (NYSE:POR) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its stake in shares of Portland General Electric (NYSE:POR) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 51,601 shares of the utilities provider’s stock after selling 1,239 shares during the period. Orion Portfolio Solutions LLC’s holdings in Portland General Electric were worth $2,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of POR. Norges Bank acquired a new position in Portland General Electric during the 4th quarter worth approximately $62,004,000. Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric in the fourth quarter valued at $32,553,000. Vanguard Group Inc. grew its holdings in Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock valued at $519,651,000 after purchasing an additional 572,531 shares in the last quarter. Finally, OLD Republic International Corp purchased a new stake in Portland General Electric during the 4th quarter worth $22,464,000.

Portland General Electric Stock Up 0.3 %

NYSE:POR opened at $44.75 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $43.11 and a 200-day moving average of $44.97. The firm has a market capitalization of $4.90 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business earned $0.67 EPS. Analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.47%. Portland General Electric’s dividend payout ratio is presently 66.45%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI raised their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. KeyCorp dropped their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.00.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.