Portland General Electric (NYSE:POR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,387 shares of the utilities provider’s stock after selling 2,595 shares during the period. Cerity Partners LLC’s holdings in Portland General Electric were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in POR. American Century Companies Inc. raised its holdings in shares of Portland General Electric by 17.4% during the first quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider’s stock valued at $774,000 after buying an additional 2,083 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Portland General Electric by 58.9% during the first quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider’s stock valued at $2,586,000 after buying an additional 17,386 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Portland General Electric during the first quarter valued at approximately $239,000. Acadian Asset Management LLC bought a new stake in shares of Portland General Electric during the first quarter valued at approximately $460,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Portland General Electric by 55.0% during the first quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider’s stock valued at $2,605,000 after buying an additional 16,750 shares during the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 2.6 %

Portland General Electric stock opened at $42.83 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 18.38 and a beta of 0.57. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The firm’s 50 day moving average price is $41.03 and its two-hundred day moving average price is $41.37.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.67%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is presently 81.55%.

Analysts Set New Price Targets

POR has been the topic of a number of recent analyst reports. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Barclays dropped their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Mizuho reissued a “neutral” rating and set a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Finally, UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $45.00 in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.13.

About Portland General Electric

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.