Nisa Investment Advisors LLC Sells 4,924 Shares of Portland General Electric (NYSE:POR)

Nisa Investment Advisors LLC decreased its holdings in Portland General Electric (NYSE:POR) by 60.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,278 shares of the utilities provider’s stock after selling 4,924 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Portland General Electric were worth $142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of POR. Fifth Third Bancorp raised its stake in Portland General Electric by 181.8% in 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 in the last quarter. Spirit of America Management Corp NY acquired a new stake in Portland General Electric in the 3rd quarter worth about $32,000. BKM Wealth Management LLC acquired a new stake in Portland General Electric in the 4th quarter worth about $33,000. Allworth Financial LP raised its position in shares of Portland General Electric by 44.0% in 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 in the last quarter. Finally, IMA Wealth Inc. raised its position in shares of Portland General Electric by 100.0% in the 2nd quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock valued at $37,000 after buying an additional 393 shares in the last quarter.

Portland General Electric Price Performance

POR stock opened at $42.80 on Friday. The company has a 50 day simple moving average of $41.09 and a 200 day simple moving average of $41.42. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 18.37 and a beta of 0.57. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share 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 business had revenue of $725.00 million for the quarter, compared to the consensus estimate of $740.21 million. During the same period in the previous year, the firm earned $0.70 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Research analysts anticipate that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is presently 81.55%.

Insiders Place Their Bets

In other Portland General Electric news, 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 transaction of $142,100.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

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

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.