Alliancebernstein L.P. Cuts Holdings in Portland General Electric (NYSE:POR)

Alliancebernstein L.P. lowered its position in shares of Portland General Electric (NYSE:POR - Free Report) by 59.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,106,454 shares of the utilities provider's stock after selling 1,648,440 shares during the period. Alliancebernstein L.P. owned 1.05% of Portland General Electric worth $48,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of POR. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric during the 4th quarter valued at $29,000. Versant Capital Management Inc grew its position in 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 buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. increased 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 worth $36,000 after acquiring an additional 769 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric during the 4th quarter valued at about $71,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price 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, February 18th. UBS Group reiterated a "neutral" rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. Finally, Jefferies Financial Group dropped their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $45.78.

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Portland General Electric Trading Down 2.8 %

POR traded down $1.19 during trading on Thursday, hitting $41.09. 369,289 shares of the stock traded hands, compared to its average volume of 1,025,945. The firm has a market capitalization of $4.50 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The firm has a 50-day moving average of $43.30 and a 200 day moving average of $44.69. 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.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating 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 business had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the prior year, the company posted $0.67 EPS. Equities research analysts anticipate 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. Stockholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.87%. Portland General Electric's dividend payout ratio is 66.45%.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was 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. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company's stock.

Portland General Electric 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.