Portland General Electric (NYSE:POR) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in Portland General Electric (NYSE:POR - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265,480 shares of the utilities provider's stock after selling 12,835 shares during the quarter. First Trust Advisors LP owned approximately 1.20% of Portland General Electric worth $55,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Freedom Investment Management Inc. lifted its stake in Portland General Electric by 38.4% in the fourth quarter. Freedom Investment Management Inc. now owns 6,061 shares of the utilities provider's stock worth $264,000 after acquiring an additional 1,683 shares during the period. HITE Hedge Asset Management LLC lifted its position in shares of Portland General Electric by 30.6% in the 4th quarter. HITE Hedge Asset Management LLC now owns 986,930 shares of the utilities provider's stock worth $43,050,000 after purchasing an additional 231,354 shares during the period. Marshall Wace LLP raised its stake in Portland General Electric by 133.4% in the fourth quarter. Marshall Wace LLP now owns 293,393 shares of the utilities provider's stock worth $12,798,000 after buying an additional 167,715 shares in the last quarter. Guggenheim Capital LLC boosted its position in Portland General Electric by 26.6% during the 4th quarter. Guggenheim Capital LLC now owns 103,182 shares of the utilities provider's stock valued at $4,501,000 after acquiring an additional 21,703 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new position in shares of Portland General Electric in the 4th quarter worth approximately $1,797,000.

Portland General Electric Price Performance

Shares of POR traded down $1.47 during mid-day trading on Friday, reaching $41.51. The stock had a trading volume of 1,847,314 shares, compared to its average volume of 1,032,980. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The business has a fifty day moving average of $43.62 and a 200 day moving average of $44.37. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.21). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. During the same quarter in the prior year, the business posted $1.21 EPS. Equities analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.06%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on POR. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. UBS Group restated a "neutral" rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays boosted their price target on Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday. StockNews.com cut shares of Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Finally, Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.89.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm'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 sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,795 shares of company stock worth $159,946 over the last 90 days. Company insiders own 0.40% of the company's stock.

Portland General Electric Company 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.