Portland General Electric (NYSE:POR) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in Portland General Electric (NYSE:POR) by 1,538.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819 shares of the utilities provider’s stock after buying an additional 769 shares during the period. Cullen Frost Bankers Inc.’s holdings in Portland General Electric were worth $36,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric in the fourth quarter valued at $29,000. Versant Capital Management Inc raised its stake in 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 buying an additional 450 shares in the last quarter. USA Financial Formulas acquired a new stake in Portland General Electric in the fourth quarter valued at $71,000. KBC Group NV raised its stake in Portland General Electric by 59.3% in the fourth quarter. KBC Group NV now owns 3,649 shares of the utilities provider’s stock valued at $159,000 after buying an additional 1,359 shares in the last quarter. Finally, Menard Financial Group LLC acquired a new stake in Portland General Electric in the third quarter valued at $205,000.

Insider Buying and Selling

In other Portland General Electric 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 stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on POR. Evercore ISI raised their price target 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. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 18th. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group dropped their price objective 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. Finally, Bank of America dropped their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Performance

NYSE POR opened at $44.51 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The business’s 50-day moving average price is $42.48 and its 200 day moving average price is $45.43. The firm has a market cap of $4.87 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (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 firm 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, equities research analysts expect 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. Investors of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

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.