Legato Capital Management LLC Sells 17,374 Shares of Portland General Electric (NYSE:POR)

Legato Capital Management LLC decreased its holdings in Portland General Electric (NYSE:POR - Free Report) by 64.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,528 shares of the utilities provider's stock after selling 17,374 shares during the quarter. Legato Capital Management LLC's holdings in Portland General Electric were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock worth $199,509,000 after purchasing an additional 66,438 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider's stock valued at $117,114,000 after buying an additional 25,332 shares during the period. Zimmer Partners LP lifted its holdings in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock valued at $88,258,000 after buying an additional 952,214 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider's stock valued at $57,220,000 after buying an additional 51,936 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider's stock valued at $61,219,000 after buying an additional 13,720 shares during the period.

Portland General Electric Stock Up 2.0 %

Shares of POR traded up $0.84 on Tuesday, reaching $42.48. The company's stock had a trading volume of 405,177 shares, compared to its average volume of 1,143,244. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a twelve month low of $39.49 and a twelve month high of $49.85. The stock has a market capitalization of $4.48 billion, a PE ratio of 12.67, a PEG ratio of 1.05 and a beta of 0.61. The firm has a fifty day moving average of $42.50 and a 200-day moving average of $45.68.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the firm posted $0.67 EPS. Equities analysts predict that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, March 24th. Portland General Electric's payout ratio is 59.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. LADENBURG THALM/SH SH lowered 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 report on Tuesday. Bank of America dropped 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 report on Tuesday, December 24th. Evercore ISI boosted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday. UBS Group restated a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, KeyCorp dropped their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $46.44.

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.