Insider Selling: Portland General Electric (NYSE:POR) SVP Sells 2,500 Shares of Stock

Portland General Electric (NYSE:POR) SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Portland General Electric Trading Up 2.2 %

Shares of Portland General Electric stock opened at $48.59 on Friday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 18.62 and a beta of 0.59. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.26. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The company has a 50-day simple moving average of $46.89 and a 200 day simple moving average of $44.05.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

Institutional Trading of Portland General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Portland General Electric during the 2nd quarter worth about $399,000. Dana Investment Advisors Inc. lifted its position in shares of Portland General Electric by 1.6% during the second quarter. Dana Investment Advisors Inc. now owns 120,518 shares of the utilities provider’s stock worth $5,211,000 after purchasing an additional 1,883 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Portland General Electric by 6.1% during the second quarter. Cetera Investment Advisers now owns 56,066 shares of the utilities provider’s stock valued at $2,424,000 after purchasing an additional 3,233 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Portland General Electric in the second quarter valued at approximately $7,459,000. Finally, Quarry LP increased its holdings in shares of Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,482 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on POR shares. Barclays lifted their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday. They set an “underperform” rating and a $47.00 target price on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.43.

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.