Phocas Financial Corp. Sells 164,680 Shares of Portland General Electric (NYSE:POR)

Phocas Financial Corp. cut its position in shares of Portland General Electric (NYSE:POR) by 85.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,107 shares of the utilities provider’s stock after selling 164,680 shares during the period. Portland General Electric comprises about 0.9% of Phocas Financial Corp.’s investment portfolio, making the stock its 29th largest position. Phocas Financial Corp.’s holdings in Portland General Electric were worth $1,270,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Portland General Electric in the third quarter valued at $596,000. Nordea Investment Management AB grew its stake in Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after buying an additional 19,057 shares during the last quarter. Franklin Resources Inc. boosted its holdings 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 worth $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC raised its position in Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after purchasing an additional 10,643 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on POR. UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Bank of America dropped their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Barclays decreased their price objective on 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. Finally, Evercore ISI upped their price target on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus price target of $46.44.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’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 sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Portland General Electric Stock Performance

Shares of POR opened at $44.65 on Wednesday. The firm’s 50 day moving average price is $42.39 and its two-hundred day moving average price is $45.57. The firm has a market cap of $4.88 billion, a P/E ratio of 14.83, a PEG ratio of 1.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a twelve month low of $39.49 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share 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 company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

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.