Portland General Electric (NYSE:POR) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its holdings in Portland General Electric (NYSE:POR - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,253 shares of the utilities provider's stock after selling 10,648 shares during the period. Magellan Asset Management Ltd owned approximately 0.07% of Portland General Electric worth $3,283,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of POR. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric during the 4th quarter worth approximately $29,000. Versant Capital Management Inc raised its holdings in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after buying an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after buying an additional 769 shares during the period. EverSource Wealth Advisors LLC boosted its position in Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after buying an additional 1,096 shares during the period. Finally, USA Financial Formulas bought a new stake in Portland General Electric in the 4th quarter worth $71,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research report on Tuesday, December 24th. StockNews.com downgraded shares of Portland General Electric from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Barclays raised their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Jefferies Financial Group reduced their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, UBS Group restated a "neutral" rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Portland General Electric currently has an average rating of "Hold" and a consensus price target of $47.00.

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Portland General Electric Trading Up 1.8 %

Shares of NYSE:POR traded up $0.74 on Tuesday, hitting $42.32. 475,456 shares of the company's stock were exchanged, compared to its average volume of 1,193,753. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The business's 50 day simple moving average is $43.26 and its two-hundred day simple moving average is $44.82.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 business had revenue of $824.00 million during 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 period in the previous year, the company posted $0.67 EPS. Analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid 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 4.73%. Portland General Electric's dividend payout ratio (DPR) is 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction dated 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 in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company's stock.

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.