Portland General Electric (NYSE:POR) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its position in shares of Portland General Electric (NYSE:POR - Free Report) by 94.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,724 shares of the utilities provider's stock after selling 443,102 shares during the quarter. Millennium Management LLC's holdings in Portland General Electric were worth $1,166,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. raised its position in Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Portland General Electric during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 1,096 shares during the last quarter. Finally, Quarry LP grew its position in Portland General Electric by 110.4% during the 4th quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock worth $64,000 after purchasing an additional 772 shares during the last quarter.

Insiders Place Their Bets

In related news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on POR. Barclays decreased their target price on shares of 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. Wells Fargo & Company decreased their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their target price for the company from $47.00 to $50.00 in a research note on Monday, May 5th. BMO Capital Markets assumed coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One 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, the company presently has an average rating of "Hold" and a consensus target price of $45.60.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded down $0.25 during trading on Friday, reaching $40.97. The company's stock had a trading volume of 976,844 shares, compared to its average volume of 1,035,601. The business has a 50 day moving average price of $42.39 and a 200-day moving average price of $43.29. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a market capitalization of $4.49 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Portland General Electric's revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. 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. This represents a $2.10 annualized dividend and a yield of 5.13%. Portland General Electric's payout ratio is currently 73.94%.

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.