Sei Investments Co. Cuts Stake in Portland General Electric (NYSE:POR)

Sei Investments Co. trimmed its position in shares of Portland General Electric (NYSE:POR - Free Report) by 14.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,921 shares of the utilities provider's stock after selling 19,814 shares during the quarter. Sei Investments Co. owned 0.11% of Portland General Electric worth $5,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of POR. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc lifted 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 worth $33,000 after buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position 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 valued at $36,000 after buying an additional 769 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Portland General Electric during the fourth quarter worth $71,000.

Portland General Electric Stock Down 3.6 %

Shares of NYSE:POR traded down $1.62 during trading on Friday, hitting $42.69. 1,603,421 shares of the company were exchanged, compared to its average volume of 1,019,092. The firm's 50 day moving average price is $43.28 and its 200-day moving average price is $44.86. 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 stock has a market capitalization of $4.68 billion, a P/E ratio of 14.18, a PEG ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly 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 firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the previous year, the company earned $0.67 earnings per share. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 4.68%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is 66.45%.

Analysts Set New Price Targets

POR has been the subject of a number of recent research reports. StockNews.com lowered Portland General Electric from a "hold" rating to a "sell" rating in a report on Thursday. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Barclays upped 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 note on Tuesday, March 4th. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, UBS Group reiterated a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Portland General Electric currently has an average rating of "Hold" and a consensus price target of $47.00.

Insider Buying and Selling at Portland General Electric

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

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.