Franklin Resources Inc. Has $5.83 Million Stock Holdings in Portland General Electric (NYSE:POR)

Franklin Resources Inc. reduced its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,667 shares of the utilities provider's stock after selling 19,623 shares during the quarter. Franklin Resources Inc. owned about 0.13% of Portland General Electric worth $5,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of POR. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the 4th quarter valued at $29,000. Versant Capital Management Inc lifted its stake in shares of Portland General Electric by 151.0% during the fourth 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 period. Cullen Frost Bankers Inc. boosted its holdings in Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 769 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Portland General Electric by 352.4% in the fourth 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 period. Finally, USA Financial Formulas bought a new stake in Portland General Electric during the 4th quarter worth about $71,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on POR shares. Evercore ISI raised their target price 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. LADENBURG THALM/SH SH cut shares of 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. Barclays lifted their target price on shares of 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 cut their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com cut Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of "Hold" and a consensus target price of $45.78.

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Portland General Electric Stock Up 0.8 %

NYSE POR traded up $0.33 during trading hours on Tuesday, reaching $43.58. 267,789 shares of the company's stock were exchanged, compared to its average volume of 1,027,432. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company's 50-day moving average is $43.38 and its two-hundred day moving average is $44.56. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter in the previous year, the business posted $0.67 EPS. On average, analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared 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 of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.59%. Portland General Electric's payout ratio is currently 66.45%.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

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.