Allspring Global Investments Holdings LLC Purchases 15,136 Shares of Portland General Electric (NYSE:POR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 121.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,557 shares of the utilities provider's stock after buying an additional 15,136 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Portland General Electric were worth $1,191,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric in the third quarter worth about $596,000. Nordea Investment Management AB raised its position in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after purchasing an additional 19,057 shares during the period. Franklin Resources Inc. grew its stake in Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC lifted its position in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider's stock worth $4,114,000 after purchasing an additional 10,643 shares during the period.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction dated 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 directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America cut their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research report on Tuesday, December 24th. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Barclays decreased their price objective on Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. UBS Group reiterated a "neutral" rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $46.44.

Portland General Electric Stock Performance

POR traded down $0.34 during trading on Wednesday, hitting $44.28. The stock had a trading volume of 253,796 shares, compared to its average volume of 1,146,560. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85. The firm has a market cap of $4.84 billion, a PE ratio of 14.70, a P/E/G ratio of 1.11 and a beta of 0.61. The company has a 50 day simple moving average of $42.39 and a 200-day simple moving average of $45.56. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $824.00 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $0.67 earnings per share. Analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, March 24th. Portland General Electric's dividend payout ratio is currently 66.45%.

Portland General Electric 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.