Great Lakes Advisors LLC Sells 6,933 Shares of Portland General Electric (NYSE:POR)

Great Lakes Advisors LLC trimmed its holdings in Portland General Electric (NYSE:POR - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,429 shares of the utilities provider's stock after selling 6,933 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.13% of Portland General Electric worth $5,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of POR. Arizona State Retirement System increased its stake in Portland General Electric by 0.8% in the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 245 shares during the period. Choreo LLC grew its holdings in shares of Portland General Electric by 1.4% in the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after purchasing an additional 371 shares during the last quarter. Versant Capital Management Inc increased its stake 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 worth $33,000 after buying an additional 450 shares during the period. Townsquare Capital LLC lifted its holdings in Portland General Electric by 6.4% during the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider's stock valued at $364,000 after buying an additional 458 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in Portland General Electric by 5.8% in the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock valued at $372,000 after buying an additional 465 shares during the period.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research reports. Barclays raised 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 research report on Tuesday, March 4th. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. LADENBURG THALM/SH SH cut 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. Bank of America cut their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. Finally, Jefferies Financial Group lowered their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $47.00.

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Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction that occurred on 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 $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $44.36 on Friday. The company has a market capitalization of $4.86 billion, a PE ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a 50-day simple moving average of $42.55 and a two-hundred day simple moving average of $45.37. 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.

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

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric's payout ratio is 66.45%.

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.

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