Portland General Electric Company (NYSE:POR) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its holdings in Portland General Electric Company (NYSE:POR) by 44.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,251 shares of the utilities provider’s stock after selling 5,720 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Portland General Electric were worth $323,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC bought a new stake in Portland General Electric in the 4th quarter valued at about $27,000. Global X Japan Co. Ltd. lifted its position in Portland General Electric by 113.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 345 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric in the 4th quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC lifted its position in Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter.

Portland General Electric Stock Down 0.3%

POR stock opened at $40.30 on Friday. Portland General Electric Company has a 52 week low of $39.55 and a 52 week high of $49.85. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 3.74 and a beta of 0.57. The firm’s 50-day moving average is $41.69 and its two-hundred day moving average is $42.55. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The company had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same quarter last year, the firm posted $1.21 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts forecast that Portland General Electric Company will post 3.21 earnings per share 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. Investors of record on Tuesday, June 24th will be issued a $0.525 dividend. This is an increase 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 5.21%. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric’s payout ratio is presently 73.94%.

Insider Buying and Selling

In related news, EVP Benjamin Felton sold 1,845 shares of the business’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 value of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on POR shares. KeyCorp downgraded shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price objective on the stock. in a research report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company cut their price objective 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. BMO Capital Markets assumed coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a “market perform” rating and a $46.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.60.

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.