HighTower Advisors LLC Has $3.29 Million Position in Portland General Electric (NYSE:POR)

HighTower Advisors LLC reduced its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,389 shares of the utilities provider's stock after selling 10,362 shares during the quarter. HighTower Advisors LLC owned 0.07% of Portland General Electric worth $3,288,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Arizona State Retirement System increased its holdings in shares of Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after buying an additional 245 shares in the last quarter. Choreo LLC increased its holdings in Portland General Electric by 1.4% in the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after purchasing an additional 371 shares in the last quarter. Versant Capital Management Inc raised its position in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 450 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Portland General Electric by 6.4% during the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider's stock valued at $364,000 after purchasing an additional 458 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Portland General Electric by 5.8% during the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock valued at $372,000 after purchasing an additional 465 shares in the last quarter.

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Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Trading Down 1.8 %

POR traded down $0.80 during trading on Tuesday, reaching $42.62. 1,098,707 shares of the stock traded hands, compared to its average volume of 918,236. The stock's 50-day moving average is $42.86 and its 200 day moving average is $45.15. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $4.67 billion, a PE ratio of 14.16, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last announced 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. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the prior year, the company earned $0.67 EPS. Equities analysts anticipate that Portland General Electric will post 3.21 earnings per share 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.69%. The ex-dividend date is Monday, March 24th. Portland General Electric's dividend payout ratio is presently 66.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group dropped 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 report on Tuesday, January 28th. Barclays raised their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group reiterated a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. 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. Finally, Evercore ISI raised their target price on Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. 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. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and a consensus price target of $47.00.

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.