Clearbridge Investments LLC Sells 4,329 Shares of Portland General Electric (NYSE:POR)

Clearbridge Investments LLC cut its stake in shares of Portland General Electric (NYSE:POR) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 464,970 shares of the utilities provider’s stock after selling 4,329 shares during the period. Clearbridge Investments LLC owned 0.44% of Portland General Electric worth $20,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric in the 4th quarter worth approximately $29,000. Versant Capital Management Inc increased its holdings in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after buying an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after buying an additional 1,096 shares during the period. Finally, USA Financial Formulas purchased a new position in Portland General Electric during the fourth quarter worth about $71,000.

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 dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Performance

NYSE POR opened at $44.75 on Wednesday. The company has a 50-day simple moving average of $43.11 and a two-hundred day simple moving average of $44.97. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.11 and a beta of 0.55. 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 (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the company earned $0.67 EPS. On average, equities analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Wall Street Analyst Weigh In

Several research firms have weighed in on POR. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Barclays boosted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, UBS Group restated a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average price target of $47.00.

Portland General Electric Company 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.