Wells Fargo & Company MN Has $11.41 Million Stock Holdings in Portland General Electric (NYSE:POR)

Wells Fargo & Company MN decreased its stake in shares of Portland General Electric (NYSE:POR) by 29.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,506 shares of the utilities provider’s stock after selling 106,994 shares during the period. Wells Fargo & Company MN owned 0.25% of Portland General Electric worth $11,407,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in shares of Portland General Electric by 13.7% during the third quarter. Stifel Financial Corp now owns 51,962 shares of the utilities provider’s stock worth $2,489,000 after purchasing an additional 6,279 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Portland General Electric by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after buying an additional 25,332 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Portland General Electric by 53.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider’s stock valued at $678,000 after buying an additional 4,936 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after buying an additional 81,701 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Portland General Electric by 1.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,062,663 shares of the utilities provider’s stock worth $50,902,000 after acquiring an additional 17,021 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Bank of America dropped their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Jefferies Financial Group cut their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, Barclays increased their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $45.78.

Portland General Electric Price Performance

Shares of POR stock opened at $43.19 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a fifty day moving average of $43.41 and a 200-day moving average of $44.55. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Monday, March 24th. Portland General Electric’s payout ratio is currently 66.45%.

Insider Buying and Selling at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Portland General Electric 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.