ProShare Advisors LLC Increases Position in Portland General Electric (NYSE:POR)

ProShare Advisors LLC increased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 882,323 shares of the utilities provider's stock after acquiring an additional 47,040 shares during the period. ProShare Advisors LLC owned about 0.84% of Portland General Electric worth $38,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth about $29,000. Cullen Frost Bankers Inc. increased its holdings in shares of Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after buying an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric during the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC grew its holdings in shares of Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Quarry LP boosted its position in Portland General Electric by 110.4% during the 4th quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after buying an additional 772 shares during the period.

Analysts Set New Price Targets

POR has been the subject of several research analyst reports. KeyCorp cut shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research report on Wednesday, May 14th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Barclays decreased their price target on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Evercore ISI cut their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.60.

Portland General Electric Trading Down 1.5%

Shares of NYSE POR traded down $0.64 during midday trading on Wednesday, hitting $42.19. The stock had a trading volume of 121,743 shares, compared to its average volume of 1,019,593. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.62 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company's 50-day simple moving average is $42.87 and its 200 day simple moving average is $43.65.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. During the same period in the prior year, the company earned $1.21 EPS. The company's quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 4.98%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is 73.94%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company's stock.

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.