Portland General Electric (NYSE:POR) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in shares of Portland General Electric (NYSE:POR) by 1,538.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 819 shares of the utilities provider’s stock after acquiring an additional 769 shares during the period. Cullen Frost Bankers Inc.’s holdings in Portland General Electric were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock valued at $1,305,000 after acquiring an additional 245 shares during the period. Choreo LLC lifted its position in shares of Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after acquiring an additional 371 shares during the period. Versant Capital Management Inc raised its position in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Portland General Electric by 6.4% during the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 458 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares during the last quarter.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’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 completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 1.3 %

Shares of POR opened at $44.51 on Monday. The stock has a fifty day moving average of $42.48 and a two-hundred day moving average of $45.43. 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 company has a market capitalization of $4.87 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share 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 company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the previous year, the firm posted $0.67 EPS. As a group, analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. Portland General Electric’s dividend payout ratio is presently 66.45%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating 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 for the company in a research report on Tuesday, December 24th. Finally, 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 report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.00.

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.