Franklin Resources Inc. Has $4.54 Million Stock Holdings in Portland General Electric (NYSE:POR)

Franklin Resources Inc. decreased its holdings in Portland General Electric (NYSE:PORFree Report) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,739 shares of the utilities provider’s stock after selling 36,074 shares during the quarter. Franklin Resources Inc. owned 0.10% of Portland General Electric worth $4,539,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Channing Capital Management LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth about $49,763,000. Norges Bank bought a new stake in Portland General Electric during the 4th quarter worth about $39,112,000. Truist Financial Corp grew its holdings in Portland General Electric by 103.5% during the 4th quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider’s stock worth $22,005,000 after acquiring an additional 258,275 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Portland General Electric by 384.1% in the 4th quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider’s stock valued at $13,945,000 after purchasing an additional 255,292 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake 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 valued at $78,728,000 after purchasing an additional 220,674 shares during the last quarter.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a filing with the SEC, which is available through this link. In other Portland General Electric 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 transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brett Michael Sims sold 963 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the transaction, the vice president now owns 13,996 shares in the company, valued at $630,239.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,463 shares of company stock worth $274,064. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on POR. Barclays reduced their target price on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Mizuho increased their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Four research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Read Our Latest Stock Analysis on Portland General Electric

Portland General Electric Stock Performance

Shares of POR stock opened at $44.56 on Friday. The company’s 50 day moving average price is $42.96 and its two-hundred day moving average price is $42.10. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The company has a market capitalization of $4.59 billion, a P/E ratio of 17.07 and a beta of 0.56. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $50.18.

Portland General Electric (NYSE:PORGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, analysts expect 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. Investors of record on Monday, June 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 4.49%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s payout ratio is presently 72.80%.

Portland General Electric Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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