SG Americas Securities LLC Sells 39,526 Shares of Portland General Electric (NYSE:POR)

SG Americas Securities LLC decreased its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 87.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,555 shares of the utilities provider's stock after selling 39,526 shares during the quarter. SG Americas Securities LLC's holdings in Portland General Electric were worth $241,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Spirit of America Management Corp NY acquired a new position in Portland General Electric in the third quarter valued at $32,000. BKM Wealth Management LLC acquired a new position in Portland General Electric in the fourth quarter valued at $33,000. Allworth Financial LP boosted its holdings in Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 261 shares during the last quarter. IMA Wealth Inc. boosted its holdings in Portland General Electric by 100.0% in the second quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 393 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Portland General Electric by 136.2% in the second quarter. Benjamin Edwards Inc. now owns 2,234 shares of the utilities provider's stock valued at $105,000 after acquiring an additional 1,288 shares during the last quarter.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.16 during trading on Friday, hitting $40.56. 1,295,682 shares of the company traded hands, compared to its average volume of 961,124. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 17.41 and a beta of 0.57. The business's fifty day moving average is $40.92 and its 200-day moving average is $41.38. Portland General Electric has a one year low of $38.01 and a one year high of $51.58. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, February 16th. The utilities provider reported $0.68 EPS 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 the consensus estimate of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 22nd will be given a dividend of $0.475 per share. The ex-dividend date is Thursday, March 21st. This represents a $1.90 annualized dividend and a dividend yield of 4.68%. Portland General Electric's dividend payout ratio is presently 81.55%.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of recent research reports. Barclays reduced their price objective on 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. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Bank of America cut 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 research note on Monday, February 5th. Mizuho restated a "neutral" rating and set a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Finally, StockNews.com cut Portland General Electric from a "hold" rating to a "sell" rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.13.

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.