Cwm LLC Lowers Holdings in Portland General Electric (NYSE:POR)

Cwm LLC decreased its stake in shares of Portland General Electric (NYSE:POR) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,416 shares of the utilities provider’s stock after selling 979 shares during the quarter. Cwm LLC’s holdings in Portland General Electric were worth $1,058,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in POR. Victory Capital Management Inc. raised its stake in Portland General Electric by 69.3% during the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock valued at $42,133,000 after buying an additional 425,923 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Portland General Electric by 12.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock worth $78,728,000 after purchasing an additional 220,674 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Portland General Electric in the 3rd quarter worth $8,339,000. Nordea Investment Management AB bought a new stake in shares of Portland General Electric in the 3rd quarter worth $6,809,000. Finally, Comerica Bank increased its holdings in shares of Portland General Electric by 309.9% in the 3rd quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock worth $7,046,000 after purchasing an additional 131,589 shares in the last quarter.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric 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 transaction 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 $1,297,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Portland General Electric Stock Performance

Shares of POR opened at $42.80 on Friday. 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 has a one year low of $38.01 and a one year high of $51.58. The firm has a market capitalization of $4.33 billion, a P/E ratio of 16.40 and a beta of 0.57. The business has a fifty day moving average of $41.37 and a 200 day moving average of $41.51.

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, beating the consensus estimate of $1.10 by $0.11. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. Portland General Electric’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is currently 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.