Portland General Electric (NYSE:POR) Holdings Lowered by Legal & General Group Plc

Legal & General Group Plc decreased its stake in Portland General Electric (NYSE:POR - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,496 shares of the utilities provider's stock after selling 11,867 shares during the period. Legal & General Group Plc owned approximately 0.58% of Portland General Electric worth $26,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in Portland General Electric in the third quarter valued at $596,000. Nordea Investment Management AB boosted its holdings in shares of Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock worth $43,058,000 after purchasing an additional 19,057 shares during the last quarter. Franklin Resources Inc. grew its holdings in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after buying an additional 81,701 shares during the period. Synergy Asset Management LLC increased its position in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after buying an additional 692 shares during the period.

Insider Buying and Selling at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Portland General Electric from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. UBS Group reissued a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH cut 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. Finally, Barclays upped their price target 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.78.

Portland General Electric Stock Down 0.0 %

Shares of Portland General Electric stock traded down $0.01 during trading on Friday, reaching $42.99. The company had a trading volume of 932,282 shares, compared to its average volume of 1,027,499. 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 has a market cap of $4.71 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The firm's fifty day moving average is $43.49 and its 200-day moving average is $44.51.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating 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 business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were issued a $0.50 dividend. The ex-dividend date was Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. Portland General Electric's dividend payout ratio (DPR) is presently 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.