Dana Investment Advisors Inc. Acquires Shares of 124,506 Portland General Electric (NYSE:POR)

Dana Investment Advisors Inc. acquired a new stake in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,506 shares of the utilities provider's stock, valued at approximately $5,396,000. Dana Investment Advisors Inc. owned 0.12% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider's stock valued at $27,000 after buying an additional 409 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Portland General Electric during the fourth quarter worth about $33,000. Allworth Financial LP boosted its holdings in shares of Portland General Electric by 44.0% during the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider's stock worth $35,000 after purchasing an additional 261 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Portland General Electric in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC bought a new stake in shares of Portland General Electric in the fourth quarter worth about $38,000.

Portland General Electric Stock Down 0.2 %

Shares of POR stock traded down $0.11 during trading hours on Friday, hitting $44.55. 679,433 shares of the company's stock traded hands, compared to its average volume of 1,139,242. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The stock's fifty day simple moving average is $42.01 and its two-hundred day simple moving average is $41.72. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.39. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 17.07 and a beta of 0.56.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business 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 business earned $0.80 earnings per share. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts expect that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.49%. This is an increase from Portland General Electric's previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. Portland General Electric's dividend payout ratio is 72.80%.

Insiders Place Their Bets

In related news, COO Benjamin Felton sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm'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 owns 16,763 shares of the company's stock, valued at approximately $742,600.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin Felton sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares of the company's stock, valued at $1,297,170. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,940 shares of company stock valued at $248,313. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho reiterated a "neutral" rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Bank of America lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $55.00 to $43.00 in a report on Monday, February 5th. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, April 30th. Barclays reduced 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. Finally, UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and cut their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of "Moderate Buy" and a consensus price target of $43.57.

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.

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