Valley Wealth Managers Inc. Sells 9,639 Shares of Portland General Electric (NYSE:POR)

Valley Wealth Managers Inc. trimmed its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,088 shares of the utilities provider's stock after selling 9,639 shares during the quarter. Valley Wealth Managers Inc. owned 0.08% of Portland General Electric worth $3,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of POR. Zimmer Partners LP raised its stake in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock valued at $88,258,000 after buying an additional 952,214 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric in the fourth quarter valued at $32,553,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider's stock valued at $60,346,000 after buying an additional 530,020 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Portland General Electric by 69.8% in the third quarter. Point72 Asset Management L.P. now owns 292,880 shares of the utilities provider's stock valued at $14,029,000 after buying an additional 120,380 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Portland General Electric by 26.6% in the third quarter. Systematic Financial Management LP now owns 537,862 shares of the utilities provider's stock valued at $25,764,000 after buying an additional 113,161 shares during the period.

Wall Street Analyst Weigh In

Several analysts have issued reports on POR shares. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday. Barclays lowered their target price on Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Bank of America reduced their target price on 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. UBS Group restated a "neutral" rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, KeyCorp reduced their target price on 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.44.

Portland General Electric Price Performance

Shares of POR traded up $0.56 during midday trading on Friday, reaching $44.36. The stock had a trading volume of 1,020,832 shares, compared to its average volume of 1,182,771. The company's 50-day moving average is $42.39 and its 200 day moving average is $45.61. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.10 and a beta of 0.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same period in the prior year, the business earned $0.67 EPS. On average, equities analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate 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.