Miller Howard Investments Inc. NY Sells 671,796 Shares of Portland General Electric (NYSE:POR)

Miller Howard Investments Inc. NY reduced its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 79.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,409 shares of the utilities provider's stock after selling 671,796 shares during the period. Miller Howard Investments Inc. NY owned about 0.18% of Portland General Electric worth $7,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Portland General Electric by 17.4% in the first quarter. American Century Companies Inc. now owns 14,034 shares of the utilities provider's stock worth $774,000 after purchasing an additional 2,083 shares in the last quarter. Citigroup Inc. grew its stake in Portland General Electric by 58.9% in the first quarter. Citigroup Inc. now owns 46,899 shares of the utilities provider's stock worth $2,586,000 after purchasing an additional 17,386 shares in the last quarter. Bank of Montreal Can acquired a new position in Portland General Electric in the first quarter worth about $239,000. Acadian Asset Management LLC acquired a new position in Portland General Electric in the first quarter worth about $460,000. Finally, MetLife Investment Management LLC grew its stake in Portland General Electric by 55.0% in the first quarter. MetLife Investment Management LLC now owns 47,232 shares of the utilities provider's stock worth $2,605,000 after purchasing an additional 16,750 shares in the last quarter.

Wall Street Analyst Weigh In

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

Portland General Electric Price Performance

Portland General Electric stock traded up $0.51 during mid-day trading on Tuesday, hitting $42.17. The company's stock had a trading volume of 645,999 shares, compared to its average volume of 962,067. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $4.27 billion, a P/E ratio of 18.10 and a beta of 0.57. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The stock's fifty day moving average price is $40.95 and its two-hundred day moving average price is $41.41.

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 the consensus estimate of $0.88 by ($0.20). The business had revenue of $725.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. Research analysts forecast that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, March 21st. Portland General Electric's payout ratio is 81.55%.

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.