Portland General Electric (NYSE:POR) Stock Position Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in Portland General Electric (NYSE:POR - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 857,337 shares of the utilities provider's stock after purchasing an additional 25,987 shares during the period. Ameriprise Financial Inc. owned about 0.81% of Portland General Electric worth $37,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric in the fourth quarter valued at $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after buying an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Portland General Electric in the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC boosted its holdings in Portland General Electric by 352.4% in 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, Quarry LP boosted its holdings in Portland General Electric by 110.4% in the 4th quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 772 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and raised their price objective for the company from $47.00 to $50.00 in a research note on Monday, May 5th. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a research report on Wednesday. Evercore ISI decreased their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group decreased their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, BMO Capital Markets started coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.50.

Insiders Place Their Bets

In related news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,795 shares of company stock worth $159,946 over the last three months. 0.40% of the stock is owned by insiders.

Portland General Electric Price Performance

Shares of NYSE:POR traded up $0.48 on Friday, hitting $42.68. The company had a trading volume of 645,618 shares, compared to its average volume of 1,024,367. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The business has a 50 day moving average of $42.92 and a 200 day moving average of $43.68. The company has a market cap of $4.67 billion, a PE ratio of 14.18, a PEG ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, equities analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 4.92%. Portland General Electric's dividend payout ratio is currently 73.94%.

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.