Axa S.A. Reduces Position in Portland General Electric (NYSE:POR)

Axa S.A. trimmed its holdings in Portland General Electric (NYSE:POR) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,019 shares of the utilities provider’s stock after selling 1,549 shares during the quarter. Axa S.A.’s holdings in Portland General Electric were worth $306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth $29,000. Cullen Frost Bankers Inc. lifted its holdings in 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 buying an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Portland General Electric in the 4th quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 1,096 shares in the last quarter. Finally, Quarry LP increased its position in shares of Portland General Electric by 110.4% during the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider’s stock worth $64,000 after acquiring an additional 772 shares during the period.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on POR. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Wells Fargo & Company cut their target price on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Finally, Evercore ISI lowered their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.40.

Portland General Electric Trading Up 0.3 %

Shares of NYSE:POR opened at $42.45 on Friday. The business’s 50-day moving average is $43.15 and its 200 day moving average is $43.92. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The firm has a market capitalization of $4.65 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $977.02 million. During the same period in the previous year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 4.95%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is currently 73.94%.

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.