Portland General Electric (NYSE:POR) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Portland General Electric (NYSE:POR) by 59.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,106,454 shares of the utilities provider’s stock after selling 1,648,440 shares during the period. Alliancebernstein L.P. owned 1.05% of Portland General Electric worth $48,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in Portland General Electric during the 3rd quarter worth $596,000. Nordea Investment Management AB grew its stake in shares of 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 acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of 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 3rd 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.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’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 value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of research analyst reports. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 18th. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Jefferies Financial Group dropped their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued 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 a consensus price target of $47.00.

Portland General Electric Trading Down 3.6 %

Shares of NYSE:POR opened at $42.69 on Friday. The company has a market capitalization of $4.68 billion, a PE ratio of 14.18, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The business has a 50 day moving average of $43.28 and a two-hundred day moving average of $44.92. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. Portland General Electric’s dividend payout ratio is presently 66.45%.

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.