Insider Selling: Portland General Electric (NYSE:POR) EVP Sells 1,845 Shares of Stock

Portland General Electric (NYSE:POR - Get Free Report) EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Benjamin Felton also recently made the following trade(s):

• On Tuesday, February 18th, Benjamin Felton sold 575 shares of Portland General Electric stock. The shares were sold at an average price of $41.32, for a total value of $23,759.00.

Portland General Electric Stock Down 1.0 %

Shares of NYSE:POR traded down $0.42 during midday trading on Wednesday, hitting $43.29. 997,801 shares of the company's stock were exchanged, compared to its average volume of 1,027,967. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a market cap of $4.74 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The stock has a 50 day moving average price of $43.56 and a 200-day moving average price of $44.40.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results 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. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter last year, the company earned $0.67 earnings per share. On average, sell-side analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POR. True Wealth Design LLC bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $29,000. Global X Japan Co. Ltd. lifted its holdings in Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after acquiring an additional 345 shares during the period. Versant Capital Management Inc boosted 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 worth $33,000 after purchasing an additional 450 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on POR. StockNews.com cut 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 set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH downgraded 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. Barclays upped their price objective on shares of Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Evercore ISI boosted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Portland General Electric has an average rating of "Hold" and an average price target of $45.89.

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.