Portland General Electric (NYSE:POR) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lowered its position in shares of Portland General Electric (NYSE:POR) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,712 shares of the utilities provider’s stock after selling 500 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Portland General Electric were worth $1,296,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after buying an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Portland General Electric during the fourth quarter worth about $32,553,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after acquiring an additional 530,020 shares during the last quarter. OLD Republic International Corp acquired a new position in Portland General Electric in the fourth quarter valued at approximately $22,464,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Portland General Electric by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock valued at $74,863,000 after purchasing an additional 138,831 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on POR. UBS Group reissued 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. 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. Barclays lowered their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. KeyCorp cut their price objective on shares of 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. Finally, Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.44.

Insider Activity

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 shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 0.8 %

Portland General Electric stock opened at $44.65 on Wednesday. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.11 and a beta of 0.61. The company’s 50-day moving average price is $42.39 and its two-hundred day moving average price is $45.57. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

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, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter last year, the business earned $0.67 earnings per share. On average, analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed 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 4.48%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

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.