Portland General Electric Company (NYSE:POR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Portland General Electric Company (NYSE:POR - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,478,149 shares of the utilities provider's stock after selling 47,616 shares during the period. Principal Financial Group Inc. owned 1.35% of Portland General Electric worth $65,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its holdings in shares of Portland General Electric by 2.0% during the fourth quarter. State of Michigan Retirement System now owns 25,000 shares of the utilities provider's stock valued at $1,090,000 after acquiring an additional 500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Portland General Electric by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,313,282 shares of the utilities provider's stock valued at $57,285,000 after acquiring an additional 35,216 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Portland General Electric by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,064,269 shares of the utilities provider's stock valued at $46,423,000 after acquiring an additional 11,346 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Portland General Electric during the fourth quarter valued at about $494,000. Finally, Arizona State Retirement System increased its holdings in shares of Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after acquiring an additional 245 shares in the last quarter.

Portland General Electric Stock Performance

Portland General Electric stock traded down $0.31 during mid-day trading on Monday, hitting $40.90. The company had a trading volume of 1,303,435 shares, compared to its average volume of 1,054,989. 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 12-month low of $39.55 and a 12-month high of $49.85. The company's fifty day moving average is $41.50 and its 200-day moving average is $42.40. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 3.84 and a beta of 0.56.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (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 for the quarter, compared to analysts' expectations of $977.02 million. During the same quarter last year, the business earned $1.21 EPS. The company's quarterly revenue was down .1% on a year-over-year basis. Equities research analysts predict that Portland General Electric Company 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. Shareholders 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 yield of 5.13%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is presently 73.94%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of 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. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and increased their price target for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Evercore ISI cut their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Barclays cut their price target on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $45.60.

Insiders Place Their Bets

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 value of $79,371.90. Following the transaction, the executive vice president owned 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

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.