Portland General Electric (NYSE:POR) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its stake in Portland General Electric (NYSE:POR) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,754 shares of the utilities provider’s stock after selling 820 shares during the quarter. Cetera Investment Advisers owned about 0.05% of Portland General Electric worth $2,301,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of POR. Arizona State Retirement System lifted its position in shares of Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after purchasing an additional 245 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 269 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Portland General Electric by 4.2% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock worth $318,000 after purchasing an additional 291 shares in the last quarter. Texas Yale Capital Corp. lifted its position in shares of Portland General Electric by 2.6% during the fourth quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock worth $520,000 after purchasing an additional 300 shares in the last quarter. Finally, Choreo LLC lifted its position in shares of Portland General Electric by 1.4% during the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after purchasing an additional 371 shares in the last quarter.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $42.68 on Monday. The firm has a market capitalization of $4.67 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $42.92 and its two-hundred day moving average is $43.68.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. Research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.92%. Portland General Electric’s dividend payout ratio (DPR) is 73.94%.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

POR has been the topic of several research reports. Evercore ISI reduced their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. KeyCorp cut shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Finally, Barclays cut their target price on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.50.

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.