Wedge Capital Management L L P NC Decreases Stock Holdings in Portland General Electric (NYSE:POR)

Wedge Capital Management L L P NC lowered its holdings in Portland General Electric (NYSE:POR - Free Report) by 14.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 107,874 shares of the utilities provider's stock after selling 17,830 shares during the quarter. Wedge Capital Management L L P NC owned about 0.10% of Portland General Electric worth $4,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of POR. True Wealth Design LLC acquired a new stake in Portland General Electric in the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric during the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. grew its position in shares of 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 valued at $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric in the fourth quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC increased its stake in Portland General Electric by 352.4% in the fourth 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 during the last quarter.

Insider Activity

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on POR. Evercore ISI decreased their target price 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. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on 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. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Finally, BMO Capital Markets assumed coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.60.

Portland General Electric Trading Up 0.5%

Shares of NYSE:POR traded up $0.20 during mid-day trading on Thursday, reaching $41.28. The stock had a trading volume of 1,042,486 shares, compared to its average volume of 1,031,332. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm has a market cap of $4.52 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a 50 day simple moving average of $42.15 and a two-hundred day simple moving average of $43.12.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly 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). The firm 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 was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. On average, 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. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.09%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric's payout ratio is presently 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.