Wellington Management Group LLP Has $12.79 Million Position in Portland General Electric (NYSE:POR)

Wellington Management Group LLP lessened its position in shares of Portland General Electric (NYSE:POR - Free Report) by 72.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,222 shares of the utilities provider's stock after selling 755,950 shares during the quarter. Wellington Management Group LLP owned approximately 0.28% of Portland General Electric worth $12,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Portland General Electric in the 3rd quarter valued at $596,000. Nordea Investment Management AB raised its position in Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock worth $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. lifted its stake in Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after purchasing an additional 81,701 shares during the period. Synergy Asset Management LLC boosted its holdings in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after purchasing an additional 5,084 shares during the period.

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Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded up $0.33 during midday trading on Tuesday, reaching $43.58. The company had a trading volume of 267,789 shares, compared to its average volume of 1,027,432. 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 stock has a fifty day simple moving average of $43.38 and a 200 day simple moving average of $44.56. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate 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 company had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same period last year, the firm earned $0.67 EPS. As a group, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm 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 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on POR shares. Barclays raised their target price on 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Evercore ISI upped their target price 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. StockNews.com downgraded shares of Portland General Electric from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Finally, Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.78.

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.