Insider Selling: Portland General Electric (NYSE:POR) COO Sells 3,500 Shares of Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 3,500 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Portland General Electric Price Performance

POR opened at $41.74 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $51.58. The stock has a market capitalization of $4.22 billion, a PE ratio of 17.91 and a beta of 0.57. The stock’s 50 day moving average price is $40.99 and its 200-day moving average price is $41.37.

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

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 22nd were paid a $0.475 dividend. The ex-dividend date was Thursday, March 21st. This represents a $1.90 annualized dividend and a yield of 4.55%. Portland General Electric’s payout ratio is 81.55%.

Institutional Investors Weigh In On Portland General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in Portland General Electric in the fourth quarter worth $25,000. Fifth Third Bancorp grew 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 purchasing an additional 409 shares during the period. Spirit of America Management Corp NY purchased a new stake in Portland General Electric in the third quarter worth $32,000. BKM Wealth Management LLC purchased a new stake in Portland General Electric in the fourth quarter worth $33,000. Finally, Mather Group LLC. purchased a new stake in Portland General Electric in the first quarter worth $34,000.

Analyst Ratings Changes

POR has been the subject of several recent research reports. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Mizuho reiterated a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Barclays lowered their price objective on 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. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Finally, Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $43.00 in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average target price of $45.13.

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.