Portland General Electric (NYSE:POR) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its position in shares of Portland General Electric (NYSE:POR) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,253 shares of the utilities provider’s stock after selling 10,648 shares during the period. Magellan Asset Management Ltd owned 0.07% of Portland General Electric worth $3,283,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric in the 4th quarter worth $29,000. Versant Capital Management Inc lifted its holdings in Portland General Electric by 151.0% in the 4th 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 during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $71,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH cut shares of 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. 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 research note on Tuesday, March 4th. Bank of America reduced their target price 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 dropped their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Evercore ISI upped their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Down 0.2 %

NYSE:POR opened at $44.64 on Thursday. The stock has a market cap of $4.89 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week 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 stock’s 50-day moving average is $43.18 and its two-hundred day moving average is $44.97.

Portland General Electric (NYSE:POR) last announced 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. The firm 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 posted $0.67 earnings per share. As a group, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Insiders Place Their Bets

In related 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 stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

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.