Leeward Investments LLC MA Sells 22,469 Shares of Portland General Electric (NYSE:POR)

Leeward Investments LLC MA cut its position in Portland General Electric (NYSE:POR) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,232 shares of the utilities provider’s stock after selling 22,469 shares during the quarter. Portland General Electric comprises approximately 1.0% of Leeward Investments LLC MA’s holdings, making the stock its 23rd biggest position. Leeward Investments LLC MA owned approximately 0.52% of Portland General Electric worth $22,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in POR. Johnson Financial Group Inc. acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $25,000. Fifth Third Bancorp lifted its holdings 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 purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC bought a new position in Portland General Electric during the fourth quarter worth $33,000. Mather Group LLC. acquired a new position in shares of Portland General Electric in the first quarter valued at $34,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Portland General Electric in the fourth quarter valued at about $38,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Mizuho upped their target price on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.10 on Thursday, reaching $42.44. 639,487 shares of the company’s stock were exchanged, compared to its average volume of 1,000,853. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.72. The company has a fifty day moving average of $43.53 and a 200-day moving average of $42.25. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 16.26 and a beta of 0.58. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, research analysts predict that Portland General Electric will post 3.09 EPS for the current fiscal 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 Monday, June 24th will be given a dividend of $0.50 per share. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, June 24th. This represents a $2.00 annualized dividend and a yield of 4.71%. Portland General Electric’s dividend payout ratio is currently 76.63%.

Insiders Place Their Bets

In other news, VP Brett Michael Sims sold 963 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the transaction, the vice president now directly owns 13,996 shares in the company, valued at approximately $630,239.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at approximately $742,600.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the transaction, the vice president now owns 13,996 shares in the company, valued at approximately $630,239.88. The disclosure for this sale can be found here. Insiders have sold 6,463 shares of company stock worth $274,064 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.