Alpine Woods Capital Investors LLC Lowers Stock Position in Portland General Electric (NYSE:POR)

Alpine Woods Capital Investors LLC reduced its holdings in Portland General Electric (NYSE:POR - Free Report) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,186 shares of the utilities provider's stock after selling 19,782 shares during the period. Alpine Woods Capital Investors LLC's holdings in Portland General Electric were worth $1,578,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric during the fourth quarter worth $29,000. Versant Capital Management Inc boosted its holdings 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. boosted its holdings in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after buying an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after buying an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Portland General Electric during the fourth quarter worth $71,000.

Portland General Electric Price Performance

Shares of NYSE POR traded down $0.25 during mid-day trading on Tuesday, reaching $44.52. The company's stock had a trading volume of 930,845 shares, compared to its average volume of 914,208. The stock has a 50-day moving average of $42.63 and a two-hundred day moving average of $45.30. The stock has a market capitalization of $4.88 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55. 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 has a 1-year low of $40.05 and a 1-year high of $49.85.

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Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same period last year, the business earned $0.67 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's payout ratio is currently 66.45%.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Barclays upped their price objective 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. UBS Group restated a "neutral" rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. KeyCorp reduced their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, December 4th. Finally, 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 for the company. in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $47.00.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.

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.