Insider Selling: Portland General Electric (NYSE:POR) CFO Sells 1,375 Shares of Stock

Portland General Electric (NYSE:POR) CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Portland General Electric Price Performance

Shares of POR stock opened at $43.36 on Thursday. The firm has a market cap of $4.57 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.06 and a beta of 0.61. The firm has a fifty day moving average of $42.41 and a two-hundred day moving average of $45.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1-year low of $39.49 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $0.67 earnings per share. As a group, research analysts anticipate that Portland General Electric will post 3.2 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

Analysts Set New Price Targets

A number of research firms have weighed in on POR. Jefferies Financial Group decreased their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of 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 reaffirmed a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, KeyCorp lowered their target price on 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. One equities research 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. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $46.44.

Hedge Funds Weigh In On Portland General Electric

Several large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric during the third quarter worth $25,000. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter valued at about $27,000. Allworth Financial LP raised its stake in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the fourth quarter worth about $29,000. Finally, Versant Capital Management Inc boosted its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares during the period.

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.