Phocas Financial Corp. Decreases Holdings in Portland General Electric (NYSE:POR)

Phocas Financial Corp. lowered its position in Portland General Electric (NYSE:POR - Free Report) by 85.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,107 shares of the utilities provider's stock after selling 164,680 shares during the period. Portland General Electric makes up about 0.9% of Phocas Financial Corp.'s portfolio, making the stock its 29th largest position. Phocas Financial Corp.'s holdings in Portland General Electric were worth $1,270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank grew its position in shares of Portland General Electric by 2.0% in the 4th quarter. Amalgamated Bank now owns 48,125 shares of the utilities provider's stock worth $2,099,000 after buying an additional 947 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Portland General Electric by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider's stock worth $74,863,000 after buying an additional 138,831 shares during the last quarter. OLD Republic International Corp purchased a new position in shares of Portland General Electric in the 4th quarter worth approximately $22,464,000. South Dakota Investment Council grew its position in shares of Portland General Electric by 88.7% in the 4th quarter. South Dakota Investment Council now owns 46,581 shares of the utilities provider's stock worth $2,032,000 after buying an additional 21,900 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Portland General Electric in the 4th quarter worth approximately $333,000.

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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 on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, 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 filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. UBS Group restated a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. KeyCorp cut their price target on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Finally, Bank of America cut their price target 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. One research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.44.

Portland General Electric Stock Performance

Shares of POR stock traded up $0.75 during trading hours on Friday, hitting $44.85. The company's stock had a trading volume of 1,369,461 shares, compared to its average volume of 1,180,945. The company has a 50 day moving average of $42.42 and a 200 day moving average of $45.53. The stock has a market cap of $4.90 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the prior year, the firm earned $0.67 EPS. On average, sell-side analysts forecast 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is currently 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.