Portland General Electric (NYSE:POR) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC reduced its position in shares of Portland General Electric (NYSE:POR) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 820,713 shares of the utilities provider’s stock after selling 49,875 shares during the period. Anchor Capital Advisors LLC owned about 0.78% of Portland General Electric worth $35,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of POR. Allworth Financial LP boosted its holdings in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc grew its holdings in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Portland General Electric in the fourth quarter valued at approximately $71,000. Finally, International Assets Investment Management LLC increased its stake in Portland General Electric by 4,690.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after buying an additional 1,970 shares during the period.

Portland General Electric Price Performance

Shares of NYSE POR opened at $44.10 on Friday. The stock’s 50-day simple moving average is $42.40 and its 200-day simple moving average is $45.55. The firm has a market capitalization of $4.82 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a fifty-two week low of $39.49 and a fifty-two 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) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter last year, the company earned $0.67 earnings per share. As a group, equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.54%. Portland General Electric’s dividend payout ratio is presently 66.45%.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 18th. Evercore ISI lifted their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Bank of America cut their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays cut their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.44.

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.