Portland General Electric Company (NYSE:POR) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 76.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,305 shares of the utilities provider's stock after selling 7,409 shares during the quarter. Farther Finance Advisors LLC's holdings in Portland General Electric were worth $103,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in POR. True Wealth Design LLC acquired a new stake in Portland General Electric in the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. lifted its stake in Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after acquiring an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric during the 4th quarter worth approximately $52,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, Quarry LP increased its position in shares of 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 during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on POR shares. Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. Barclays cut their target price on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.60.

Portland General Electric Stock Performance

POR stock traded down $0.25 on Wednesday, hitting $40.01. The company's stock had a trading volume of 1,796,465 shares, compared to its average volume of 1,045,073. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 3.71 and a beta of 0.57. The firm has a 50 day moving average of $41.80 and a two-hundred day moving average of $42.64. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The business had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. During the same period in the previous year, the company posted $1.21 earnings per share. Portland General Electric's quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Portland General Electric Company will post 3.21 EPS 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. Stockholders of record on Tuesday, June 24th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.25%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is presently 73.94%.

Insider Activity

In related news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric 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 transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company's stock.

About Portland General Electric

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.