Portland General Electric (NYSE:POR) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in shares of Portland General Electric (NYSE:POR) by 14.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,020 shares of the utilities provider’s stock after selling 1,577 shares during the period. First Hawaiian Bank’s holdings in Portland General Electric were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. lifted its position in shares of Portland General Electric by 2.0% during the fourth quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock worth $634,000 after purchasing an additional 282 shares in the last quarter. Strs Ohio boosted its position in Portland General Electric by 3.3% in the 4th quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after buying an additional 300 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Portland General Electric by 1.4% during the fourth quarter. Van ECK Associates Corp now owns 22,856 shares of the utilities provider’s stock valued at $991,000 after acquiring an additional 321 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Portland General Electric by 7.7% during the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock worth $185,000 after acquiring an additional 325 shares during the last quarter. Finally, Spirit of America Management Corp NY lifted its stake in shares of Portland General Electric by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 400 shares in the last quarter.

Insider Buying and Selling

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the sale, the vice president now owns 13,996 shares in the company, valued at $630,239.88. The disclosure for this sale can be found here. Insiders sold a total of 6,463 shares of company stock worth $274,064 in the last three months. 0.54% of the stock is owned by insiders.

Portland General Electric Stock Performance

Shares of POR opened at $42.69 on Friday. The stock has a market capitalization of $4.40 billion, a PE ratio of 16.36 and a beta of 0.58. The business’s fifty day moving average price is $43.46 and its 200 day moving average price is $42.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.72.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. Equities research analysts forecast that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is currently 72.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on POR shares. Mizuho lifted their price objective on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

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.