Huber Capital Management LLC Sells 10,561 Shares of Portland General Electric (NYSE:POR)

Huber Capital Management LLC lowered its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 32.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 21,500 shares of the utilities provider's stock after selling 10,561 shares during the period. Huber Capital Management LLC's holdings in Portland General Electric were worth $938,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of POR. Bryce Point Capital LLC acquired a new stake in Portland General Electric during the 4th quarter valued at $1,678,000. Trexquant Investment LP lifted its position in Portland General Electric by 2,249.6% during the fourth quarter. Trexquant Investment LP now owns 168,751 shares of the utilities provider's stock worth $7,361,000 after acquiring an additional 161,569 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Portland General Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock worth $108,710,000 after acquiring an additional 47,172 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of Portland General Electric by 1,510.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock valued at $15,665,000 after purchasing an additional 336,823 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Portland General Electric by 1.4% in the 4th quarter. California Public Employees Retirement System now owns 463,792 shares of the utilities provider's stock valued at $20,231,000 after purchasing an additional 6,602 shares during the period.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on POR. Barclays lifted their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. UBS Group reiterated a "neutral" rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, 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 note on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $47.00.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 completion of the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Stock Up 1.8 %

Shares of NYSE POR traded up $0.76 during mid-day trading on Tuesday, hitting $42.34. 475,456 shares of the stock traded hands, compared to its average volume of 1,193,753. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.11 and a beta of 0.49. The stock has a fifty day moving average price of $43.26 and a 200-day moving average price of $44.82. Portland General Electric has a 52 week low of $40.05 and a 52 week 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 released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the firm earned $0.67 EPS. Research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, March 24th. Portland General Electric's payout ratio is 66.45%.

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.