Insider Selling: Portland General Electric (NYSE:POR) COO Sells 3,500 Shares of Stock

Portland General Electric (NYSE:POR - Get Free Report) COO Benjamin Felton sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares of the company's stock, valued at $1,297,170. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded up $0.43 on Wednesday, hitting $40.98. 775,375 shares of the company traded hands, compared to its average volume of 967,024. The firm's 50-day simple moving average is $40.96 and its 200 day simple moving average is $41.37. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The company has a market cap of $4.15 billion, a P/E ratio of 17.59 and a beta of 0.57. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.20). The company had revenue of $725.00 million for the quarter, compared to analysts' expectations of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Analysts expect that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Thursday, March 21st. Portland General Electric's dividend payout ratio is currently 81.55%.

Hedge Funds Weigh In On Portland General Electric

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fox Hill Wealth Management grew its holdings in shares of Portland General Electric by 5.6% during the 1st quarter. Fox Hill Wealth Management now owns 26,991 shares of the utilities provider's stock valued at $1,134,000 after purchasing an additional 1,429 shares during the last quarter. Scharf Investments LLC grew its holdings in shares of Portland General Electric by 13.0% during the 1st quarter. Scharf Investments LLC now owns 79,212 shares of the utilities provider's stock valued at $3,327,000 after purchasing an additional 9,139 shares during the last quarter. Mather Group LLC. bought a new position in shares of Portland General Electric during the 1st quarter valued at $34,000. Kapitalo Investimentos Ltda bought a new position in shares of Portland General Electric during the 4th quarter valued at $192,000. Finally, Quadrature Capital Ltd bought a new position in shares of Portland General Electric during the 4th quarter valued at $1,181,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on POR. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and dropped their price target for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Barclays dropped their price target on shares of Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 21st. Bank of America cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and dropped their price target for the company from $55.00 to $43.00 in a research note on Monday, February 5th. StockNews.com cut shares of Portland General Electric from a "hold" rating to a "sell" rating in a research note on Tuesday, February 27th. Finally, Mizuho restated a "neutral" rating and set a $42.00 price target (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and a consensus target price of $45.13.

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.

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