Insider Selling: Portland General Electric (NYSE:POR) SVP Sells 2,500 Shares of Stock

Portland General Electric (NYSE:POR) SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Portland General Electric Stock Down 1.0 %

Shares of POR traded down $0.49 during midday trading on Wednesday, reaching $47.80. 744,669 shares of the stock were exchanged, compared to its average volume of 937,314. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 18.30 and a beta of 0.59. The firm has a 50 day simple moving average of $46.55 and a 200-day simple moving average of $43.94. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.26. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. Research analysts forecast that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is presently 76.63%.

Hedge Funds Weigh In On Portland General Electric

Several hedge funds have recently bought and sold shares of POR. Johnson Financial Group Inc. acquired a new stake in shares of Portland General Electric in the fourth quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. LRI Investments LLC acquired a new stake in Portland General Electric in the 1st quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric during the second quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric during the first quarter valued at approximately $34,000.

Analysts Set New Price Targets

Several equities research analysts recently commented on POR shares. Mizuho upped their price target on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Barclays raised their price objective on Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.86.

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.