US Bancorp DE Decreases Stock Position in Portland General Electric (NYSE:POR)

US Bancorp DE decreased its position in shares of Portland General Electric (NYSE:POR) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,374 shares of the utilities provider’s stock after selling 6,744 shares during the period. US Bancorp DE’s holdings in Portland General Electric were worth $540,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in POR. State Street Corp boosted its stake in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the last quarter. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Zimmer Partners LP boosted its stake in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after acquiring an additional 138,831 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Portland General Electric by 4.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after purchasing an additional 51,936 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of 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 SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group reaffirmed a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp lowered their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.00.

Portland General Electric Price Performance

Shares of POR opened at $44.33 on Wednesday. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The stock’s fifty day moving average is $42.53 and its 200-day moving average is $45.39. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released 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. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter last year, the company earned $0.67 EPS. Equities analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) 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.