Portland General Electric (NYSE:POR) Stock Position Reduced by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. trimmed its holdings in Portland General Electric (NYSE:POR) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 127,610 shares of the utilities provider’s stock after selling 3,956 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Portland General Electric were worth $5,566,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp grew its position in Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after acquiring an additional 66,438 shares in the last quarter. Geode Capital Management LLC grew its position in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Zimmer Partners LP grew its position in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares in the last quarter. Bank of New York Mellon Corp grew its position in Portland General Electric by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after acquiring an additional 138,831 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares in the last quarter.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America decreased their price objective 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. Barclays decreased their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Jefferies Financial Group decreased their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. 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 objective for the company. in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Price Performance

NYSE:POR opened at $44.85 on Friday. The stock has a market cap of $4.90 billion, a P/E ratio of 14.90, a PEG ratio of 1.11 and a beta of 0.61. Portland General Electric has a one year low of $39.49 and a one year high of $49.85. The company has a fifty day moving average price of $42.42 and a 200 day moving average price of $45.53. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the prior year, the company earned $0.67 EPS. Analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend 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.