Prudential Financial Inc. Cuts Stock Position in Portland General Electric (NYSE:POR)

Prudential Financial Inc. decreased its holdings in Portland General Electric (NYSE:POR) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 434,460 shares of the utilities provider’s stock after selling 4,920 shares during the quarter. Prudential Financial Inc.’s holdings in Portland General Electric were worth $18,951,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Arizona State Retirement System lifted its holdings in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after buying an additional 245 shares in the last quarter. Choreo LLC increased its position in shares of Portland General Electric by 1.4% during the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after acquiring an additional 371 shares during the period. Versant Capital Management Inc raised its stake in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Portland General Electric by 6.4% in the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 458 shares during the period. Finally, Trust Co. of Vermont grew its stake in Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on POR. 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 research report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Bank of America lowered their price target on shares of 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 shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Evercore ISI boosted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Portland General Electric has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Up 0.9 %

NYSE POR opened at $42.96 on Thursday. The firm’s fifty day moving average price is $42.92 and its 200 day moving average price is $45.09. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. 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 company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $716.17 million. During the same quarter last year, the company posted $0.67 earnings per share. On average, sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’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 transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is owned by company insiders.

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.