Vaughan Nelson Investment Management L.P. Sells 411,220 Shares of Portland General Electric (NYSE:POR)

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 900,561 shares of the utilities provider's stock after selling 411,220 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.82% of Portland General Electric worth $40,165,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Arizona State Retirement System grew its stake in shares of Portland General Electric by 0.8% in the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after buying an additional 245 shares during the period. Captrust Financial Advisors grew its stake in shares of Portland General Electric by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock valued at $379,000 after buying an additional 269 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Portland General Electric by 4.2% in the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock valued at $318,000 after buying an additional 291 shares during the period. Texas Yale Capital Corp. grew its stake in shares of Portland General Electric by 2.6% in the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock valued at $520,000 after buying an additional 300 shares during the period. Finally, USA Financial Formulas grew its stake in shares of Portland General Electric by 23.1% in the 1st quarter. USA Financial Formulas now owns 1,994 shares of the utilities provider's stock valued at $89,000 after buying an additional 374 shares during the period.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.38 during mid-day trading on Friday, reaching $40.92. The company had a trading volume of 1,039,762 shares, compared to its average volume of 1,035,384. 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 market cap of $4.48 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.11 and a beta of 0.57. The company's 50-day moving average price is $42.13 and its 200-day moving average price is $42.99. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 9.13% and a return on equity of 9.10%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same period in the previous year, the firm earned $1.21 EPS. The company's revenue was down .1% compared to the same quarter last year. As a group, 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 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 is a boost from Portland General Electric's previous quarterly dividend of $0.50. 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%. Portland General Electric's payout ratio is presently 73.94%.

Insider Buying and Selling at Portland General Electric

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 shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on POR shares. Evercore ISI reduced their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research note on Wednesday, May 14th. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Barclays reduced 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 note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.60.

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.