Zacks Investment Management Sells 23,538 Shares of Portland General Electric (NYSE:POR)

Zacks Investment Management lowered its position in Portland General Electric (NYSE:POR) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,741 shares of the utilities provider’s stock after selling 23,538 shares during the quarter. Zacks Investment Management’s holdings in Portland General Electric were worth $8,058,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of POR. Guggenheim Capital LLC lifted its position in Portland General Electric by 26.6% in the fourth quarter. Guggenheim Capital LLC now owns 103,182 shares of the utilities provider’s stock worth $4,501,000 after purchasing an additional 21,703 shares during the period. Icon Advisers Inc. Co. acquired a new position in shares of Portland General Electric in the 4th quarter valued at $1,797,000. Mariner LLC lifted its holdings in shares of Portland General Electric by 20.3% during the 4th quarter. Mariner LLC now owns 19,386 shares of the utilities provider’s stock worth $846,000 after acquiring an additional 3,269 shares during the period. Barclays PLC boosted its position in shares of Portland General Electric by 50.9% during the 4th quarter. Barclays PLC now owns 314,621 shares of the utilities provider’s stock valued at $13,724,000 after acquiring an additional 106,133 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in Portland General Electric by 1.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,029 shares of the utilities provider’s stock valued at $1,397,000 after acquiring an additional 587 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group restated a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Bank of America cut their price target 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. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $44.00 target price (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.78.

Insider Activity at Portland General Electric

In other Portland General Electric 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Portland General Electric Trading Down 0.3 %

Shares of NYSE:POR opened at $43.05 on Thursday. The company’s 50-day moving average price is $43.46 and its two-hundred day moving average price is $44.54. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a market capitalization of $4.71 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, equities analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

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.