Whittier Trust Co. Sells 101,243 Shares of Portland General Electric (NYSE:POR)

Whittier Trust Co. lessened its stake in Portland General Electric (NYSE:POR - Free Report) by 97.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,103 shares of the utilities provider's stock after selling 101,243 shares during the period. Whittier Trust Co.'s holdings in Portland General Electric were worth $135,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Portland General Electric by 2.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 196,923 shares of the utilities provider's stock worth $8,590,000 after purchasing an additional 4,304 shares during the period. Teacher Retirement System of Texas raised its holdings in Portland General Electric by 8.8% in the 4th quarter. Teacher Retirement System of Texas now owns 25,178 shares of the utilities provider's stock worth $1,098,000 after purchasing an additional 2,031 shares during the period. Fox Hill Wealth Management lifted its position in Portland General Electric by 2.9% during the fourth quarter. Fox Hill Wealth Management now owns 30,342 shares of the utilities provider's stock valued at $1,324,000 after purchasing an additional 846 shares in the last quarter. Xponance Inc. grew its holdings in Portland General Electric by 6.8% during the fourth quarter. Xponance Inc. now owns 14,824 shares of the utilities provider's stock valued at $647,000 after purchasing an additional 945 shares during the period. Finally, Boston Partners increased its position in Portland General Electric by 25.1% in the fourth quarter. Boston Partners now owns 339,623 shares of the utilities provider's stock worth $14,809,000 after buying an additional 68,207 shares in the last quarter.

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Portland General Electric Price Performance

NYSE:POR traded up $0.85 during trading hours on Thursday, reaching $43.83. The stock had a trading volume of 1,145,027 shares, compared to its average volume of 924,383. The stock has a market capitalization of $4.80 billion, a PE ratio of 14.56, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a 50 day moving average price of $42.92 and a two-hundred day moving average price of $45.09. 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 (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, 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 company had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. As a group, sell-side analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.56%. Portland General Electric's dividend payout ratio is currently 66.45%.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. KeyCorp decreased their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Barclays boosted their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, UBS Group reiterated a "neutral" rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric has an average rating of "Hold" and a consensus price target of $47.00.

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.