Prudential Financial Inc. Trims Stock Position in Portland General Electric (NYSE:POR)

Prudential Financial Inc. decreased its stake in Portland General Electric (NYSE:POR) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 434,460 shares of the utilities provider’s stock after selling 4,920 shares during the quarter. Prudential Financial Inc. owned approximately 0.41% of Portland General Electric worth $18,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric in the 4th quarter worth approximately $29,000. Versant Capital Management Inc lifted its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after buying an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after buying an additional 1,096 shares during the period. Finally, USA Financial Formulas purchased a new position in Portland General Electric in the fourth quarter valued at $71,000.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on POR shares. Barclays increased their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Bank of America lowered their price target 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. Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Evercore ISI increased their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, UBS Group reissued a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Stock Performance

NYSE POR opened at $42.96 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock’s fifty day moving average is $42.92 and its two-hundred day moving average is $45.09. The firm has a market capitalization of $4.70 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter in the previous year, the company posted $0.67 EPS. On average, research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.66%. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

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.