LSV Asset Management Lowers Stock Position in Portland General Electric (NYSE:POR)

LSV Asset Management trimmed its position in Portland General Electric (NYSE:POR) by 39.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 39,600 shares of the utilities provider’s stock after selling 26,000 shares during the period. LSV Asset Management’s holdings in Portland General Electric were worth $1,716,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in shares of Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Portland General Electric in the fourth quarter valued at $33,000. Allworth Financial LP lifted its position in shares of Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after buying an additional 261 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Portland General Electric during the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC purchased a new stake in Portland General Electric in the 4th quarter worth about $38,000.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $44.68 on Friday. Portland General Electric has a one year low of $38.01 and a one year high of $51.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 17.12 and a beta of 0.56. The company’s fifty day moving average price is $41.92 and its 200-day moving average price is $41.67.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. During the same quarter last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.48%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio is currently 72.80%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $43.00 in a report on Monday, February 5th. Finally, Mizuho restated a “neutral” rating and issued a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.57.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The disclosure for this sale can be found here. Insiders have sold 5,940 shares of company stock worth $248,313 over the last ninety days. Insiders own 0.54% of the company’s stock.

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.