Insider Selling: Portland General Electric (NYSE:POR) VP Sells 963 Shares of Stock

Portland General Electric (NYSE:POR - Get Free Report) VP Brett Michael Sims sold 963 shares of the company's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the sale, the vice president now directly owns 13,996 shares of the company's stock, valued at approximately $630,239.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Portland General Electric Price Performance

POR stock traded down $0.96 during trading on Thursday, hitting $43.74. 719,679 shares of the stock traded hands, compared to its average volume of 978,177. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 16.76 and a beta of 0.56. Portland General Electric has a one year low of $38.01 and a one year high of $50.18. The company has a 50 day simple moving average of $42.59 and a 200 day simple moving average of $41.96.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company had revenue of $929.00 million during the quarter, compared to analysts' expectations of $828.94 million. During the same quarter in the previous year, the company earned $0.80 EPS. Portland General Electric's revenue was up 24.2% on a year-over-year basis. Equities analysts expect that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be given a dividend of $0.50 per share. This is a boost from Portland General Electric's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. Portland General Electric's payout ratio is currently 72.80%.

Analysts Set New Price Targets

A number of analysts have commented on POR shares. Mizuho upped their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, May 16th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Barclays reduced their price objective on Portland General Electric from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, February 21st. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, April 30th. Finally, Bank of America downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Institutional Investors Weigh In On Portland General Electric

Several institutional investors have recently modified their holdings of POR. Redwood Grove Capital LLC grew its holdings in Portland General Electric by 6.0% during the first quarter. Redwood Grove Capital LLC now owns 223,125 shares of the utilities provider's stock valued at $9,371,000 after purchasing an additional 12,700 shares during the period. Comerica Bank grew its holdings in Portland General Electric by 5.7% during the first quarter. Comerica Bank now owns 172,504 shares of the utilities provider's stock valued at $7,245,000 after purchasing an additional 9,239 shares during the period. Tidal Investments LLC grew its holdings in Portland General Electric by 3.6% during the first quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider's stock valued at $801,000 after purchasing an additional 662 shares during the period. Jane Street Group LLC grew its holdings in Portland General Electric by 274.5% during the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider's stock valued at $8,303,000 after purchasing an additional 144,900 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Portland General Electric during the first quarter valued at approximately $277,000.

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.