Insider Selling: Portland General Electric (NYSE:POR) COO Sells 575 Shares of Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 575 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $23,759.00. Following the sale, the chief operating officer now owns 37,282 shares in the company, valued at approximately $1,540,492.24. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Portland General Electric Trading Up 1.1 %

Portland General Electric stock opened at $43.80 on Friday. The firm has a 50-day moving average price of $42.39 and a two-hundred day moving average price of $45.61. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.10 and a beta of 0.61. Portland General Electric has a 52-week low of $39.49 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last posted 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 company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the previous year, the business earned $0.67 EPS. Sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently declared 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 dividend yield of 4.57%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently bought and sold shares of POR. Creative Planning raised its position in shares of 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. V Square Quantitative Management LLC acquired a new stake in Portland General Electric during the third quarter worth $25,000. Blue Trust Inc. increased its stake in Portland General Electric by 136.5% in the third quarter. Blue Trust Inc. now owns 2,195 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 1,267 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Portland General Electric during the third quarter worth about $595,000. Finally, Whittier Trust Co. boosted its stake in shares of Portland General Electric by 4.9% in the 3rd quarter. Whittier Trust Co. now owns 104,346 shares of the utilities provider’s stock valued at $4,998,000 after purchasing an additional 4,838 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday. Jefferies Financial Group decreased their target price on 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 lowered their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, Barclays cut their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Company 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.