Insider Selling: Portland General Electric (NYSE:POR) VP Sells $43,363.89 in Stock

Portland General Electric (NYSE:POR) VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the transaction, the vice president now directly owns 13,996 shares in the company, valued at $630,239.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Portland General Electric Stock Down 0.0 %

Shares of POR stock opened at $43.72 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $50.18. The firm’s fifty day moving average price is $42.71 and its two-hundred day moving average price is $41.99. The firm has a market capitalization of $4.50 billion, a P/E ratio of 16.75 and a beta of 0.56.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. During the same period in the previous year, the business earned $0.80 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities analysts predict that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be paid a $0.50 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, June 24th. Portland General Electric’s payout ratio is presently 72.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Mizuho raised their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $43.00 in a report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Institutional Investors Weigh In On Portland General Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC increased its stake in Portland General Electric by 231.6% in the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock valued at $819,000 after buying an additional 13,618 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Portland General Electric by 228.4% during the 1st quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider’s stock worth $2,219,000 after purchasing an additional 36,744 shares during the last quarter. Redwood Grove Capital LLC increased its stake in shares of Portland General Electric by 6.0% during the 1st quarter. Redwood Grove Capital LLC now owns 223,125 shares of the utilities provider’s stock worth $9,371,000 after purchasing an additional 12,700 shares during the last quarter. Comerica Bank increased its stake in shares of Portland General Electric by 5.7% during the 1st quarter. Comerica Bank now owns 172,504 shares of the utilities provider’s stock worth $7,245,000 after purchasing an additional 9,239 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Portland General Electric by 3.6% during the 1st quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider’s stock worth $801,000 after purchasing an additional 662 shares during the last quarter.

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.