Portland General Electric (NYSE:POR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Portland General Electric (NYSE:POR) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,525,765 shares of the utilities provider’s stock after selling 100,788 shares during the quarter. Principal Financial Group Inc. owned about 1.45% of Portland General Electric worth $66,554,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Portland General Electric during the third quarter worth $596,000. Nordea Investment Management AB lifted its holdings in Portland General Electric by 2.0% in the 4th 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 in the last quarter. Franklin Resources Inc. boosted its position in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after buying an additional 81,701 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Portland General Electric by 14.2% during the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after acquiring an additional 10,643 shares during the last quarter.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Portland General Electric Price Performance

NYSE:POR opened at $43.36 on Thursday. The business’s 50-day moving average price is $42.41 and its 200 day moving average price is $45.62. The firm has a market cap of $4.57 billion, a P/E ratio of 14.40, a PEG ratio of 1.06 and a beta of 0.61. 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 has a 52-week low of $39.49 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, sell-side analysts predict that Portland General Electric will post 3.2 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.61%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on POR shares. JPMorgan Chase & Co. upped their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group restated a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Bank of America decreased 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 report on Tuesday, December 24th. KeyCorp dropped their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Evercore ISI raised their price target 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.44.

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.