Insider Selling: Portland General Electric (NYSE:POR) COO Sells 575 Shares of Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 575 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $23,759.00. Following the completion of the sale, the chief operating officer now directly owns 37,282 shares of the company’s stock, valued at $1,540,492.24. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Portland General Electric Stock Up 1.0 %

NYSE:POR traded up $0.45 during mid-day trading on Wednesday, reaching $43.26. The stock had a trading volume of 446,211 shares, compared to its average volume of 1,155,036. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61. Portland General Electric has a 1-year low of $39.49 and a 1-year high of $49.85. The stock’s 50 day simple moving average is $42.50 and its two-hundred day simple moving average is $45.68.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate 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 business earned $0.67 EPS. Equities analysts anticipate that Portland General Electric will post 3.2 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.62%. Portland General Electric’s payout ratio is currently 66.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on POR shares. KeyCorp decreased their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Barclays reduced their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of POR. V Square Quantitative Management LLC bought a new position in Portland General Electric in the third quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric during the 4th quarter valued at approximately $29,000. Allworth Financial LP grew its stake in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in 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 buying an additional 450 shares during the period.

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.