Bessemer Group Inc. Sells 2,867 Shares of Portland General Electric (NYSE:POR)

Bessemer Group Inc. trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 71.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,118 shares of the utilities provider’s stock after selling 2,867 shares during the period. Bessemer Group Inc.’s holdings in Portland General Electric were worth $48,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Portland General Electric during the 4th quarter worth approximately $62,004,000. Assenagon Asset Management S.A. acquired a new stake in Portland General Electric in the 4th quarter valued at $32,553,000. Vanguard Group Inc. increased its stake in shares of Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares in the last quarter. OLD Republic International Corp acquired a new position in shares of Portland General Electric during the fourth quarter valued at approximately $22,464,000. Finally, Brandywine Global Investment Management LLC lifted its holdings in Portland General Electric by 1,510.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider’s stock valued at $15,665,000 after purchasing an additional 336,823 shares in the last quarter.

Analyst Ratings Changes

POR has been the topic of a number of recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Jefferies Financial Group reduced their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI lifted their target price on 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 downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average price target of $45.78.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Performance

NYSE POR opened at $42.99 on Friday. The business’s 50-day moving average price is $43.49 and its 200 day moving average price is $44.51. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The company has a market capitalization of $4.71 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter last year, the firm posted $0.67 earnings per share. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

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

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.