Dana Investment Advisors Inc. Reduces Holdings in Portland General Electric (NYSE:POR)

Dana Investment Advisors Inc. trimmed its stake in shares of Portland General Electric (NYSE:POR) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,354 shares of the utilities provider’s stock after selling 822 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.11% of Portland General Electric worth $4,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric in the fourth quarter worth approximately $29,000. Versant Capital Management Inc boosted its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the period. Cullen Frost Bankers Inc. grew its holdings in 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 acquiring an additional 769 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Portland General Electric in the fourth quarter valued at about $71,000. Finally, International Assets Investment Management LLC raised its stake in shares of Portland General Electric by 4,690.5% during the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,970 shares during the last quarter.

Analyst Upgrades and Downgrades

POR has been the topic of several recent analyst reports. 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 note on Tuesday, January 28th. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Barclays boosted their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Up 0.1 %

Shares of Portland General Electric stock opened at $43.94 on Friday. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.11 and a beta of 0.61. The company has a 50-day moving average of $42.46 and a 200 day moving average of $45.47. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating 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 business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction 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.

Portland General Electric 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.