LSV Asset Management Decreases Position in Portland General Electric (NYSE:POR)

LSV Asset Management lowered its position in Portland General Electric (NYSE:POR - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,600 shares of the utilities provider's stock after selling 26,000 shares during the period. LSV Asset Management's holdings in Portland General Electric were worth $1,716,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Portland General Electric by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,597,563 shares of the utilities provider's stock worth $105,149,000 after acquiring an additional 58,852 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Portland General Electric by 12.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider's stock valued at $78,728,000 after buying an additional 220,674 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Portland General Electric by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,161,970 shares of the utilities provider's stock worth $47,037,000 after buying an additional 68,393 shares during the last quarter. Victory Capital Management Inc. increased its stake in Portland General Electric by 69.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider's stock worth $42,133,000 after buying an additional 425,923 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Portland General Electric by 2.3% during the third quarter. Legal & General Group Plc now owns 624,905 shares of the utilities provider's stock valued at $25,296,000 after acquiring an additional 13,952 shares during the last quarter.

Portland General Electric Trading Down 0.2 %

Shares of Portland General Electric stock traded down $0.11 during trading hours on Friday, hitting $44.55. The company's stock had a trading volume of 679,433 shares, compared to its average volume of 993,486. The firm has a fifty day moving average of $41.92 and a 200-day moving average of $41.67. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 17.12 and a beta of 0.56. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.39.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to analysts' expectations of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. Portland General Electric's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. Research analysts forecast that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. 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. Portland General Electric's dividend payout ratio is 72.80%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Benjamin Felton sold 3,500 shares of the business's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares of the company's stock, valued at approximately $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at approximately $742,600.90. The disclosure for this sale can be found here. Insiders sold a total of 5,940 shares of company stock worth $248,313 over the last ninety days. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

POR has been the subject of several research reports. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research report on Tuesday, April 30th. Barclays lowered 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 report on Wednesday, February 21st. Mizuho reissued a "neutral" rating and issued a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America cut Portland General Electric from a "buy" rating to a "neutral" rating and cut their price target for the company from $55.00 to $43.00 in a report on Monday, February 5th. Finally, UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Portland General Electric presently has an average rating of "Moderate Buy" and a consensus target price of $43.57.

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.