Fuller & Thaler Asset Management Inc. Boosts Stake in Portland General Electric (NYSE:POR)

Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,959,660 shares of the utilities provider's stock after purchasing an additional 635,987 shares during the period. Fuller & Thaler Asset Management Inc. owned about 3.75% of Portland General Electric worth $172,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in POR. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric in the 4th quarter valued at about $29,000. Versant Capital Management Inc raised its position in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings 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 acquiring an additional 769 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Portland General Electric in the 4th quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 1,096 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on POR. Barclays boosted their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Evercore ISI cut their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Finally, UBS Group reissued a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $45.40.

Portland General Electric Price Performance

POR stock traded down $0.11 during midday trading on Monday, reaching $41.26. The stock had a trading volume of 399,788 shares, compared to its average volume of 1,028,590. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. 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 company's fifty day simple moving average is $43.59 and its 200 day simple moving average is $44.32. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million during 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 business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, sell-side analysts predict that Portland General Electric will post 3.21 earnings per share 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. Investors of record on Tuesday, June 24th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is currently 69.77%.

Insider Buying and Selling

In related news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were 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 owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is owned by corporate insiders.

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.