Vanguard Group Inc. Has $519.65 Million Position in Portland General Electric (NYSE:POR)

Vanguard Group Inc. grew its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,913,132 shares of the utilities provider's stock after purchasing an additional 572,531 shares during the quarter. Vanguard Group Inc. owned approximately 11.30% of Portland General Electric worth $519,651,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric during the 4th quarter worth $29,000. Versant Capital Management Inc grew its position in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after acquiring an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of 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 worth $36,000 after acquiring an additional 769 shares during the period. EverSource Wealth Advisors LLC lifted its position in Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Portland General Electric in the 4th quarter valued at about $71,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America decreased 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 report on Tuesday, December 24th. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. 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 report on Friday, January 3rd. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Finally, Evercore ISI boosted their price objective on 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 analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $47.00.

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Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Portland General Electric Price Performance

Shares of NYSE POR traded down $1.62 during mid-day trading on Friday, reaching $42.69. The company had a trading volume of 1,603,421 shares, compared to its average volume of 1,019,092. The company has a 50-day moving average price of $43.28 and a two-hundred day moving average price of $44.89. The stock has a market cap of $4.68 billion, a PE ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.49. 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 1-year low of $40.05 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. During the same quarter last year, the business posted $0.67 EPS. On average, equities analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. Portland General Electric's payout ratio is currently 66.45%.

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.