Sagefield Capital LP Trims Stock Position in Portland General Electric (NYSE:POR)

Sagefield Capital LP decreased its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,891 shares of the utilities provider's stock after selling 31,993 shares during the period. Sagefield Capital LP's holdings in Portland General Electric were worth $1,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric during the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. lifted its stake in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Portland General Electric during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC lifted its stake 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 worth $61,000 after purchasing an additional 1,096 shares during the period. Finally, Quarry LP lifted its stake in shares of Portland General Electric by 110.4% during the 4th quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock worth $64,000 after purchasing an additional 772 shares during the period.

Portland General Electric Stock Up 1.1%

Shares of POR opened at $42.68 on Friday. The firm has a market capitalization of $4.67 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.57. The company has a 50-day simple moving average of $42.92 and a 200-day simple moving average of $43.73. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

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

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 4.92%. Portland General Electric's payout ratio is presently 73.94%.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and increased their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. BMO Capital Markets assumed coverage on Portland General Electric in a research report on Tuesday. They issued a "market perform" rating and a $46.00 target price on the stock. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.50.

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.

Want to see what other hedge funds are holding POR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Portland General Electric (NYSE:POR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.