6,916 Shares in Portland General Electric (NYSE:POR) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,916 shares of the utilities provider's stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brevan Howard Capital Management LP lifted its holdings in shares of Portland General Electric by 88.2% during the 4th quarter. Brevan Howard Capital Management LP now owns 16,929 shares of the utilities provider's stock valued at $738,000 after acquiring an additional 7,936 shares in the last quarter. Bridgefront Capital LLC acquired a new position in shares of Portland General Electric during the 4th quarter valued at $535,000. Captrust Financial Advisors lifted its holdings in shares of Portland General Electric by 3.2% during the 4th quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock valued at $379,000 after acquiring an additional 269 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Portland General Electric during the 4th quarter valued at $3,479,000. Finally, Bank of America Corp DE lifted its holdings in Portland General Electric by 5.2% in the 4th quarter. Bank of America Corp DE now owns 1,038,224 shares of the utilities provider's stock worth $45,287,000 after buying an additional 51,247 shares in the last quarter.

Insider Transactions at Portland General Electric

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

Portland General Electric Price Performance

NYSE POR traded up $0.48 on Friday, reaching $42.68. 645,618 shares of the stock traded hands, compared to its average volume of 1,024,367. The firm's fifty day simple moving average is $42.92 and its 200 day simple moving average is $43.68. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85.

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

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. BMO Capital Markets began coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price objective for the company. Jefferies Financial Group cut their price objective on 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. Finally, KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective on the stock. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.50.

Portland General Electric 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.