Rhumbline Advisers Reduces Stake in Portland General Electric (NYSE:POR)

Rhumbline Advisers reduced its stake in Portland General Electric (NYSE:POR - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 357,161 shares of the utilities provider's stock after selling 9,902 shares during the quarter. Rhumbline Advisers owned about 0.33% of Portland General Electric worth $15,929,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at about $27,000. Newbridge Financial Services Group Inc. bought a new stake in Portland General Electric in the fourth quarter worth approximately $29,000. 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 valued at $36,000 after buying an additional 769 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 1,096 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts 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 research report on Friday, April 25th. 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 report on Wednesday, May 14th. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and raised their target price for the company from $47.00 to $50.00 in a research note on Monday, May 5th. Barclays decreased their target price on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets began coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $45.60.

Insider Buying and Selling

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the business'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 now owns 32,646 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Down 0.3%

POR stock traded down $0.12 during mid-day trading on Monday, reaching $40.85. 916,053 shares of the company traded hands, compared to its average volume of 1,030,562. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm's 50 day moving average price is $42.31 and its 200 day moving average price is $43.19. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter in the prior year, the business earned $1.21 EPS. The firm's revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is presently 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.