Legal & General Group Plc Cuts Stock Position in Portland General Electric (NYSE:POR)

Legal & General Group Plc decreased its stake in Portland General Electric (NYSE:POR) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,496 shares of the utilities provider’s stock after selling 11,867 shares during the quarter. Legal & General Group Plc owned approximately 0.58% of Portland General Electric worth $26,543,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric in the 4th quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in 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 in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric in the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,096 shares in the last quarter.

Portland General Electric Stock Up 1.3 %

Portland General Electric stock opened at $42.14 on Monday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The firm has a 50 day moving average price of $43.34 and a 200 day moving average price of $44.60. The company has a market capitalization of $4.61 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate 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. Research analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday. UBS Group restated a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.78.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.