Wellington Management Group LLP Lowers Stock Position in Portland General Electric (NYSE:POR)

Wellington Management Group LLP lowered its position in Portland General Electric (NYSE:POR - Free Report) by 72.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293,222 shares of the utilities provider's stock after selling 755,950 shares during the quarter. Wellington Management Group LLP owned about 0.27% of Portland General Electric worth $12,790,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of POR. KBC Group NV lifted its position in Portland General Electric by 59.3% in the fourth quarter. KBC Group NV now owns 3,649 shares of the utilities provider's stock valued at $159,000 after buying an additional 1,359 shares during the last quarter. Jennison Associates LLC acquired a new position in Portland General Electric in the fourth quarter valued at about $1,963,000. Retirement Systems of Alabama lifted its position in Portland General Electric by 2.4% in the fourth quarter. Retirement Systems of Alabama now owns 128,226 shares of the utilities provider's stock valued at $5,593,000 after buying an additional 3,024 shares during the last quarter. Spirit of America Management Corp NY lifted its position in Portland General Electric by 85.8% in the fourth quarter. Spirit of America Management Corp NY now owns 11,150 shares of the utilities provider's stock valued at $486,000 after buying an additional 5,150 shares during the last quarter. Finally, Choreo LLC lifted its position in Portland General Electric by 1.4% in the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock valued at $1,166,000 after buying an additional 371 shares during the last quarter.

Portland General Electric Stock Down 0.4%

Shares of POR stock traded down $0.16 during trading hours on Friday, reaching $41.06. 90,314 shares of the stock were exchanged, compared to its average volume of 1,032,162. The business's fifty day moving average is $42.39 and its two-hundred day moving average is $43.29. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market capitalization of $4.50 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last released 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 firm had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, research analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.11%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio is currently 73.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POR. Barclays reduced 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 research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of 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. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Finally, Evercore ISI reduced 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 research report on Monday, April 28th. One 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.60.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by 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.