Wells Fargo & Company MN Trims Position in Portland General Electric (NYSE:POR)

Wells Fargo & Company MN decreased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,506 shares of the utilities provider's stock after selling 106,994 shares during the period. Wells Fargo & Company MN owned approximately 0.25% of Portland General Electric worth $11,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric in the 4th quarter valued at about $29,000. Versant Capital Management Inc grew its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the period. EverSource Wealth Advisors LLC raised its position in Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Portland General Electric in the 4th quarter worth $71,000.

Wall Street Analysts Forecast Growth

POR has been the subject of several recent research reports. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Barclays boosted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. StockNews.com downgraded shares of Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Finally, UBS Group reiterated a "neutral" rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric presently has a consensus rating of "Hold" and an average target price of $45.78.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,795 shares of company stock valued at $159,946. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Stock Down 0.0 %

Shares of POR traded down $0.01 during mid-day trading on Friday, hitting $42.99. 932,282 shares of the company traded hands, compared to its average volume of 1,027,625. The business has a 50 day moving average of $43.51 and a 200 day moving average of $44.48. The company has a market capitalization of $4.71 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data 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 net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the firm earned $0.67 EPS. Equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

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.