UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Portland General Electric (NYSE:POR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,841 shares of the utilities provider's stock after selling 15,368 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of Portland General Electric worth $9,589,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in POR. Vanguard Group Inc. increased its holdings in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after buying an additional 572,531 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Portland General Electric by 19.1% during the 4th 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. increased its holdings in Portland General Electric by 2.9% during the 4th 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 increased its holdings in Portland General Electric by 1.9% during the 4th 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 increased its holdings in Portland General Electric by 25.2% during the 4th 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.

Portland General Electric Stock Performance

POR traded down $0.81 during mid-day trading on Wednesday, reaching $41.26. 1,156,464 shares of the company traded hands, compared to its average volume of 1,035,253. The stock has a market capitalization of $4.52 billion, a P/E ratio of 13.71, a P/E/G 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. The company's fifty day moving average price is $42.46 and its 200-day moving average price is $43.33. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85.

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 for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 5.09%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's dividend payout ratio is 73.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on POR. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Evercore ISI cut their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company cut their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 5th. Finally, BMO Capital Markets initiated coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $45.60.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the company'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 completion of the sale, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.40% of the stock is currently owned by company 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.