Voya Investment Management LLC Lowers Position in Portland General Electric (NYSE:POR)

Voya Investment Management LLC lessened its holdings in Portland General Electric (NYSE:POR - Free Report) by 55.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,874 shares of the utilities provider's stock after selling 125,245 shares during the quarter. Voya Investment Management LLC owned 0.10% of Portland General Electric worth $4,444,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its position in Portland General Electric by 19.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after purchasing an additional 635,987 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Portland General Electric by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 151,644 shares of the utilities provider's stock valued at $6,616,000 after buying an additional 28,589 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of Portland General Electric by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 59,956 shares of the utilities provider's stock valued at $2,615,000 after acquiring an additional 17,936 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Portland General Electric in the 4th quarter valued at $513,000. Finally, Hsbc Holdings PLC raised its stake in Portland General Electric by 37.5% in the 4th quarter. Hsbc Holdings PLC now owns 9,318 shares of the utilities provider's stock worth $405,000 after acquiring an additional 2,542 shares during the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the business'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 transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock valued at $159,946 in the last 90 days. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price target on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. LADENBURG THALM/SH SH cut 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 report on Tuesday, February 18th. Finally, Evercore ISI decreased their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded up $0.38 on Tuesday, reaching $42.76. The company's stock had a trading volume of 319,225 shares, compared to its average volume of 1,026,848. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a market capitalization of $4.68 billion, a P/E ratio of 14.21, a PEG ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $43.32 and a 200-day moving average price of $44.06.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the company earned $1.21 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 4.91%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio is currently 73.94%.

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.