Northern Trust Corp Grows Position in Portland General Electric (NYSE:POR)

Northern Trust Corp grew its holdings in Portland General Electric (NYSE:POR - Free Report) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,488,333 shares of the utilities provider's stock after purchasing an additional 177,920 shares during the period. Northern Trust Corp owned about 1.41% of Portland General Electric worth $64,921,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric during the fourth quarter worth approximately $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 purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric in the 4th quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Evercore ISI decreased their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Finally, Barclays cut their price objective on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Trading Up 0.3 %

Shares of NYSE:POR traded up $0.12 during midday trading on Friday, reaching $42.45. The company's stock had a trading volume of 612,364 shares, compared to its average volume of 1,020,174. The firm has a 50 day moving average price of $43.19 and a two-hundred day moving average price of $44.00. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.11 and a beta of 0.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two 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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same period in the previous year, the firm earned $1.21 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 4.95%. Portland General Electric's dividend payout ratio (DPR) is currently 73.94%.

Insider Transactions at Portland General Electric

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

About Portland General Electric

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.