Panagora Asset Management Inc. Lowers Stock Holdings in Portland General Electric (NYSE:POR)

Panagora Asset Management Inc. reduced its position in Portland General Electric (NYSE:POR) by 37.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,435 shares of the utilities provider’s stock after selling 3,265 shares during the quarter. Panagora Asset Management Inc.’s holdings in Portland General Electric were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after buying an additional 409 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $33,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $38,000. GAMMA Investing LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at $38,000. Finally, Principal Securities Inc. bought a new position in shares of Portland General Electric during the 4th quarter valued at $45,000.

Analyst Ratings Changes

Several research firms have issued reports on POR. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Mizuho increased their price objective on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Barclays dropped their price target 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Buying and Selling at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at $742,600.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin Felton sold 3,500 shares of the firm’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 transaction, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,463 shares of company stock valued at $274,064. 0.54% of the stock is currently owned by company insiders.

Portland General Electric Stock Down 0.0 %

Shares of NYSE POR opened at $43.72 on Friday. The firm has a fifty day simple moving average of $42.71 and a two-hundred day simple moving average of $41.99. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $50.18. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $4.50 billion, a PE ratio of 16.75 and a beta of 0.56.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same period in the prior year, the firm earned $0.80 earnings per share. Portland General Electric’s revenue was up 24.2% on a year-over-year basis. Equities analysts expect that Portland General Electric will post 3.08 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be issued a $0.50 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. Portland General Electric’s dividend payout ratio is 72.80%.

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.