Tocqueville Asset Management L.P. Has $227,000 Stock Position in Portland General Electric (NYSE:POR)

Tocqueville Asset Management L.P. reduced its position in shares of Portland General Electric (NYSE:POR) by 32.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the utilities provider’s stock after selling 2,500 shares during the period. Tocqueville Asset Management L.P.’s holdings in Portland General Electric were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in POR. Zimmer Partners LP raised its position in Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Portland General Electric during the fourth quarter valued at approximately $32,553,000. OLD Republic International Corp acquired a new position in Portland General Electric during the fourth quarter valued at approximately $22,464,000. Raymond James Financial Inc. acquired a new position in Portland General Electric during the fourth quarter valued at approximately $7,181,000. Finally, Bank of New York Mellon Corp raised its position in Portland General Electric by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock valued at $74,863,000 after purchasing an additional 138,831 shares in the last quarter.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $44.31 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.11 and a beta of 0.55. The company’s fifty day moving average is $42.74 and its 200 day moving average is $45.26.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POR. Barclays upped their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Bank of America lowered their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Finally, KeyCorp lowered their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $47.00.

Insider Buying and Selling at Portland General Electric

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 shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% 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.