Portland General Electric (NYSE:POR) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,874 shares of the utilities provider's stock after selling 17,830 shares during the period. 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 572,531 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after purchasing an additional 635,987 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Portland General Electric by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock valued at $145,403,000 after purchasing an additional 93,903 shares during the period. Geode Capital Management LLC raised its stake in shares of Portland General Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock valued at $108,710,000 after purchasing an additional 47,172 shares during the period. Finally, Zimmer Partners LP raised its stake in shares of Portland General Electric by 25.2% during the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after purchasing an additional 463,685 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of analyst reports. KeyCorp lowered shares of 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, May 14th. Evercore ISI dropped their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Finally, BMO Capital Markets assumed coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. One 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $45.60.

Portland General Electric Stock Down 0.6%

Shares of NYSE:POR opened at $40.97 on Monday. 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 company has a fifty day simple moving average of $42.31 and a 200 day simple moving average of $43.19. The firm has a market cap of $4.49 billion, a PE ratio of 13.61, a price-to-earnings-growth 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 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to analyst estimates 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 for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is currently 73.94%.

Insiders Place Their Bets

In other Portland General Electric 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 completion of the transaction, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

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.

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