Portland General Electric (NYSE:POR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,330 shares of the utilities provider's stock after purchasing an additional 9,715 shares during the period. Van ECK Associates Corp owned 0.09% of Portland General Electric worth $4,071,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Portland General Electric by 121.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,557 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 15,136 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Portland General Electric by 2.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the utilities provider's stock worth $1,278,000 after acquiring an additional 700 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Portland General Electric in the 4th quarter worth $29,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Portland General Electric by 4.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider's stock worth $57,220,000 after acquiring an additional 51,936 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Portland General Electric in the 4th quarter worth $1,523,000.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's 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 transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Portland General Electric Price Performance

NYSE:POR traded up $0.55 during mid-day trading on Friday, hitting $44.35. 373,198 shares of the company's stock traded hands, compared to its average volume of 1,162,973. 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 firm's 50 day simple moving average is $42.39 and its 200 day simple moving average is $45.61. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85. The company has a market cap of $4.85 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.10 and a beta of 0.61.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $716.17 million. During the same period last year, the firm posted $0.67 EPS. Sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric's payout ratio is 66.45%.

Analyst Upgrades and Downgrades

POR has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. Barclays reduced their target price on shares of Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. UBS Group reiterated a "neutral" rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Jefferies Financial Group reduced their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Finally, Evercore ISI raised their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday. One investment 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 MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and a consensus price target of $46.44.

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.