Vaughan Nelson Investment Management L.P. Has $40.17 Million Stake in Portland General Electric Company (NYSE:POR)

Vaughan Nelson Investment Management L.P. reduced its stake in Portland General Electric Company (NYSE:POR - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 900,561 shares of the utilities provider's stock after selling 411,220 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.82% of Portland General Electric worth $40,165,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. USA Financial Formulas raised its position in shares of Portland General Electric by 23.1% in the first quarter. USA Financial Formulas now owns 1,994 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 374 shares during the period. Yousif Capital Management LLC grew its stake in Portland General Electric by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 38,990 shares of the utilities provider's stock valued at $1,739,000 after buying an additional 455 shares during the last quarter. Park Avenue Securities LLC grew its stake in Portland General Electric by 3.0% in the 1st quarter. Park Avenue Securities LLC now owns 21,498 shares of the utilities provider's stock valued at $959,000 after buying an additional 636 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Portland General Electric in the 1st quarter worth $350,000. Finally, Parallel Advisors LLC lifted its position in Portland General Electric by 56.0% during the 1st quarter. Parallel Advisors LLC now owns 3,774 shares of the utilities provider's stock worth $168,000 after acquiring an additional 1,355 shares during the last quarter.

Insider Buying and Selling

In other Portland General Electric 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company's stock.

Portland General Electric Stock Performance

Shares of NYSE:POR traded up $0.08 during trading on Wednesday, hitting $40.19. 643,070 shares of the stock were exchanged, compared to its average volume of 1,033,840. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 3.64 and a beta of 0.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. Portland General Electric Company has a 1-year low of $39.69 and a 1-year high of $49.85. The company's fifty day simple moving average is $42.07 and its 200-day simple moving average is $42.88.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The firm had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same period last year, the business earned $1.21 earnings per share. The firm's revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts expect that Portland General Electric Company 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. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 5.23%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is presently 70.42%.

Analysts Set New Price Targets

POR has been the topic of several research analyst reports. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. 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 report on Monday, May 19th. Finally, Barclays lowered 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and a consensus target price of $45.60.

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.