Portland General Electric (NYSE:POR) Shares Sold by Zacks Investment Management

Zacks Investment Management decreased its position in Portland General Electric (NYSE:POR - Free Report) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,741 shares of the utilities provider's stock after selling 23,538 shares during the period. Zacks Investment Management owned approximately 0.18% of Portland General Electric worth $8,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in POR. Guggenheim Capital LLC increased its position in shares of Portland General Electric by 26.6% during the fourth quarter. Guggenheim Capital LLC now owns 103,182 shares of the utilities provider's stock valued at $4,501,000 after acquiring an additional 21,703 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in shares of Portland General Electric in the 4th quarter valued at about $1,797,000. Mariner LLC boosted its stake in Portland General Electric by 20.3% during the 4th quarter. Mariner LLC now owns 19,386 shares of the utilities provider's stock worth $846,000 after purchasing an additional 3,269 shares during the period. Barclays PLC grew its stake in shares of Portland General Electric by 50.9% in the 4th quarter. Barclays PLC now owns 314,621 shares of the utilities provider's stock valued at $13,724,000 after purchasing an additional 106,133 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Portland General Electric by 1.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,029 shares of the utilities provider's stock valued at $1,397,000 after buying an additional 587 shares in the last quarter.

Insider Activity at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Insiders own 0.40% of the company's stock.

Portland General Electric Price Performance

Shares of POR stock traded up $1.27 during trading hours on Tuesday, hitting $43.71. 179,363 shares of the company's stock were exchanged, compared to its average volume of 1,174,539. The company has a market capitalization of $4.79 billion, a PE ratio of 14.52, a PEG ratio of 1.11 and a beta of 0.49. The business's 50 day simple moving average is $43.53 and its 200-day simple moving average is $44.41. 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 12-month low of $40.05 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data 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 company 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 quarter last year, the company earned $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.80%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio is currently 66.45%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on POR. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $44.00 target price (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. UBS Group reissued a "neutral" rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. 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 report on Tuesday, February 18th. Finally, StockNews.com lowered Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and a consensus target price of $45.78.

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.