Portland General Electric (NYSE:POR) COO Benjamin Felton Sells 575 Shares

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 575 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $23,759.00. Following the sale, the chief operating officer now directly owns 37,282 shares in the company, valued at approximately $1,540,492.24. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Portland General Electric Trading Up 1.3 %

Shares of NYSE:POR opened at $43.36 on Thursday. 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 52-week low of $39.49 and a 52-week high of $49.85. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.06 and a beta of 0.61. The business has a 50-day moving average price of $42.41 and a 200-day moving average price of $45.62.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $824.00 million during the quarter, compared to analyst estimates 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 period last year, the firm posted $0.67 EPS. Equities analysts predict that Portland General Electric will post 3.2 EPS for the current year.

Portland General Electric Dividend Announcement

The business 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. This represents a $2.00 annualized dividend and a yield of 4.61%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on POR shares. Evercore ISI raised 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. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. KeyCorp reduced their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. UBS Group reissued a “neutral” rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, Bank of America reduced their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.44.

Hedge Funds Weigh In On Portland General Electric

Institutional investors have recently modified their holdings of the stock. Vise Technologies Inc. grew its holdings in Portland General Electric by 10.7% during the fourth quarter. Vise Technologies Inc. now owns 9,541 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 924 shares during the period. PharVision Advisers LLC acquired a new position in shares of Portland General Electric in the 4th quarter valued at $272,000. Zimmer Partners LP lifted its stake in shares of Portland General Electric by 25.2% in the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock valued at $100,598,000 after purchasing an additional 463,685 shares during the period. Twinbeech Capital LP boosted its holdings in Portland General Electric by 423.1% during the fourth quarter. Twinbeech Capital LP now owns 28,974 shares of the utilities provider’s stock worth $1,264,000 after buying an additional 23,435 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Portland General Electric by 62.1% in the fourth quarter. Two Sigma Advisers LP now owns 147,800 shares of the utilities provider’s stock valued at $6,447,000 after buying an additional 56,600 shares in the last quarter.

About Portland General Electric

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.