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

Anchor Capital Advisors LLC lowered its position in shares of Portland General Electric (NYSE:POR) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 987,493 shares of the utilities provider’s stock after selling 85,050 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Portland General Electric were worth $42,798,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Portland General Electric by 69.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock valued at $42,133,000 after buying an additional 425,923 shares during the period. Truist Financial Corp lifted its holdings in shares of Portland General Electric by 103.5% in the 4th quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider’s stock valued at $22,005,000 after buying an additional 258,275 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Portland General Electric by 384.1% in the 4th quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider’s stock valued at $13,945,000 after buying an additional 255,292 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Portland General Electric by 12.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock valued at $78,728,000 after buying an additional 220,674 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Portland General Electric in the 3rd quarter valued at about $8,339,000.

Insider Activity at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

Portland General Electric Trading Up 1.3 %

Portland General Electric stock traded up $0.57 during mid-day trading on Monday, hitting $43.37. The company’s stock had a trading volume of 985,237 shares, compared to its average volume of 973,300. The firm has a market capitalization of $4.39 billion, a PE ratio of 16.68 and a beta of 0.57. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The stock’s fifty day moving average is $41.37 and its two-hundred day moving average is $41.50.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same period in the prior year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, analysts anticipate that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. Portland General Electric’s dividend payout ratio (DPR) is 72.80%.

Analyst Ratings Changes

Several brokerages recently weighed in on POR. Mizuho restated a “neutral” rating and issued a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays cut their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $43.00 in a research note on Monday, February 5th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and reduced their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. Finally, StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.13.

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.