Alpine Woods Capital Investors LLC Lowers Stock Holdings in Portland General Electric Company (NYSE:POR)

Alpine Woods Capital Investors LLC lowered its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,366 shares of the utilities provider's stock after selling 20,820 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Portland General Electric were worth $685,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Portland General Electric during the 4th quarter worth $62,004,000. Fuller & Thaler Asset Management Inc. raised its holdings in Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after purchasing an additional 635,987 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after buying an additional 572,531 shares during the last quarter. Zimmer Partners LP boosted its holdings in shares of Portland General Electric by 25.2% in the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Portland General Electric by 54.0% in the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock worth $48,422,000 after buying an additional 380,749 shares during the last quarter.

Insider Buying and Selling

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 value of $79,371.90. Following the completion of the transaction, the executive vice president owned 32,646 shares in the company, valued at $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 available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Down 0.9%

Shares of NYSE:POR traded down $0.35 during trading hours on Friday, reaching $41.12. The stock had a trading volume of 943,755 shares, compared to its average volume of 1,062,224. Portland General Electric Company has a 1 year low of $39.55 and a 1 year high of $49.85. The firm's 50 day moving average is $41.44 and its 200-day moving average is $42.33. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 3.83 and a beta of 0.56. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06.

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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. During the same period in the prior year, the company posted $1.21 earnings per share. The company's revenue was down .1% compared to the same quarter last year. Research analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on POR. JPMorgan Chase & Co. dropped their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. BMO Capital Markets began coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price objective for the company. Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Finally, Barclays cut their price objective on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Portland General Electric has an average rating of "Hold" and a consensus price target of $45.60.

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.