Anchor Capital Advisors LLC Trims Position in Portland General Electric (NYSE:POR)

Anchor Capital Advisors LLC reduced its position in Portland General Electric (NYSE:POR - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 820,713 shares of the utilities provider's stock after selling 49,875 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.78% of Portland General Electric worth $35,799,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of POR. QRG Capital Management Inc. boosted its position in Portland General Electric by 35.5% during the fourth quarter. QRG Capital Management Inc. now owns 55,344 shares of the utilities provider's stock valued at $2,414,000 after acquiring an additional 14,512 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Portland General Electric by 3.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,543 shares of the utilities provider's stock valued at $852,000 after purchasing an additional 609 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Portland General Electric by 2.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider's stock valued at $938,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank grew its stake in Portland General Electric by 2.0% during the fourth quarter. Amalgamated Bank now owns 48,125 shares of the utilities provider's stock worth $2,099,000 after purchasing an additional 947 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Portland General Electric by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider's stock worth $74,863,000 after purchasing an additional 138,831 shares in the last quarter.

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Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

POR has been the subject of several research analyst reports. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. UBS Group reiterated a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp decreased their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Bank of America reduced their price target 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. Finally, Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $47.00.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded down $0.76 during mid-day trading on Tuesday, hitting $44.48. 830,472 shares of the stock were exchanged, compared to its average volume of 1,171,773. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a 50-day simple moving average of $42.44 and a 200 day simple moving average of $45.51. The company has a market capitalization of $4.86 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.67 earnings per share. Sell-side analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared 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 dividend yield of 4.50%. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

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.