Portland General Electric (NYSE:POR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in Portland General Electric (NYSE:POR) by 48.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 41,039 shares of the utilities provider’s stock after selling 39,292 shares during the quarter. Edgestream Partners L.P.’s holdings in Portland General Electric were worth $1,790,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of POR. Zimmer Partners LP raised its holdings 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 valued at $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric during the fourth quarter valued at approximately $32,553,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after acquiring an additional 530,020 shares during the last quarter. OLD Republic International Corp acquired a new position in shares of Portland General Electric during the fourth quarter valued at approximately $22,464,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Portland General Electric during the fourth quarter valued at approximately $7,181,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on POR. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. Bank of America cut 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. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Evercore ISI upped their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group reduced their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.00.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $44.95 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm’s 50-day moving average is $42.51 and its two-hundred day moving average is $45.42. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a market capitalization of $4.91 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

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

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

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.