Portland General Electric Company (NYSE:POR) CFO Sells $107,634.05 in Stock

Key Points

• Portland General Electric CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock for a total of $107,634.05, reducing his ownership by 8.77%.
• The company reported a 6.5% year-over-year increase in quarterly revenue, totaling $807 million, and an EPS of $0.66, exceeding analyst expectations.
• Portland General Electric announced a quarterly dividend of $0.525, representing an annualized dividend yield of 5.0%, with a payout ratio of 77.49%.

Portland General Electric Company (NYSE:POR - Get Free Report) CFO Joseph R. Trpik, Jr. sold 2,603 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the sale, the chief financial officer directly owned 27,089 shares in the company, valued at approximately $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Portland General Electric Price Performance

NYSE POR traded up $0.71 during trading on Monday, hitting $42.16. 432,194 shares of the stock traded hands, compared to its average volume of 1,189,462. The company has a market capitalization of $4.62 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 3.79 and a beta of 0.55. The firm has a 50-day simple moving average of $41.00 and a 200-day simple moving average of $42.15. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. As a group, analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be issued a $0.525 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.0%. Portland General Electric's payout ratio is 77.49%.

Analyst Ratings Changes

A number of research firms have recently commented on POR. BMO Capital Markets began coverage on Portland General Electric in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price on the stock. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the company from $47.00 to $50.00 in a report on Monday, May 5th. Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.40.

Hedge Funds Weigh In On Portland General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in Portland General Electric during the 4th quarter valued at $27,000. Wayfinding Financial LLC bought a new stake in Portland General Electric during the 1st quarter valued at $27,000. IFP Advisors Inc raised its position in Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Private Trust Co. NA raised its position in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Finally, Global X Japan Co. Ltd. raised its position in Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares in the last quarter.

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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