Alpine Woods Capital Investors LLC Trims Holdings in Portland General Electric (NYSE:POR)

Alpine Woods Capital Investors LLC reduced its stake in Portland General Electric (NYSE:POR - Free Report) by 57.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,572 shares of the utilities provider's stock after selling 88,745 shares during the period. Alpine Woods Capital Investors LLC owned 0.06% of Portland General Electric worth $2,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Portland General Electric by 8.4% in the 2nd quarter. BlackRock Inc. now owns 12,672,161 shares of the utilities provider's stock worth $593,437,000 after acquiring an additional 986,445 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 8.1% during the third quarter. Vanguard Group Inc. now owns 11,268,761 shares of the utilities provider's stock valued at $489,739,000 after purchasing an additional 848,958 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Portland General Electric by 21.8% during the first quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider's stock valued at $334,647,000 after purchasing an additional 1,087,996 shares in the last quarter. State Street Corp boosted its stake in shares of Portland General Electric by 5.1% during the second quarter. State Street Corp now owns 3,615,988 shares of the utilities provider's stock valued at $170,996,000 after purchasing an additional 174,695 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Portland General Electric by 7.8% during the first quarter. JPMorgan Chase & Co. now owns 3,163,031 shares of the utilities provider's stock valued at $154,641,000 after purchasing an additional 228,283 shares in the last quarter.

Analysts Set New Price Targets

POR has been the topic of a number of recent research reports. Mizuho reiterated a "neutral" rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $47.00 to $45.00 in a research note on Monday, January 29th. Barclays dropped their price objective 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 downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $55.00 to $43.00 in a research note on Monday, February 5th. Finally, StockNews.com cut shares of Portland General Electric from a "hold" rating to a "sell" rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.13.

Portland General Electric Stock Up 0.1 %

NYSE:POR traded up $0.03 during midday trading on Friday, reaching $41.35. 542,949 shares of the stock traded hands, compared to its average volume of 952,088. The business has a 50-day moving average of $40.92 and a two-hundred day moving average of $41.42. The stock has a market capitalization of $4.18 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 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. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

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

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 22nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.59%. Portland General Electric's dividend payout ratio is currently 81.55%.

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.