Benjamin Felton Sells 3,500 Shares of Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Portland General Electric Price Performance

Shares of POR opened at $41.74 on Friday. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $51.58. The business’s fifty day moving average is $40.99 and its 200 day moving average is $41.37. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The stock has a market cap of $4.22 billion, a P/E ratio of 17.91 and a beta of 0.57.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $725.00 million during the quarter, compared to the consensus estimate of $740.21 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. Portland General Electric’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Thursday, March 21st. Portland General Electric’s dividend payout ratio (DPR) is presently 81.55%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $43.00 in a research report on Monday, February 5th. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and decreased their target price for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Finally, Barclays decreased their target price on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.13.

Hedge Funds Weigh In On Portland General Electric

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Portland General Electric by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,268,761 shares of the utilities provider’s stock valued at $489,739,000 after acquiring an additional 848,958 shares in the last quarter. Wellington Management Group LLP lifted its stake in Portland General Electric by 21.8% during the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock valued at $334,647,000 after acquiring an additional 1,087,996 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after acquiring an additional 1,017,503 shares in the last quarter. State Street Corp raised its stake in shares of Portland General Electric by 5.1% during the 2nd quarter. State Street Corp now owns 3,615,988 shares of the utilities provider’s stock worth $170,996,000 after purchasing an additional 174,695 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Portland General Electric by 7.8% during the 1st quarter. JPMorgan Chase & Co. now owns 3,163,031 shares of the utilities provider’s stock worth $154,641,000 after purchasing an additional 228,283 shares during the period.

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.