Whittier Trust Co. Sells 101,243 Shares of Portland General Electric (NYSE:POR)

Whittier Trust Co. cut its stake in Portland General Electric (NYSE:POR) by 97.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,103 shares of the utilities provider’s stock after selling 101,243 shares during the period. Whittier Trust Co.’s holdings in Portland General Electric were worth $135,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in POR. Swiss National Bank boosted its holdings in Portland General Electric by 1.0% in the third quarter. Swiss National Bank now owns 201,200 shares of the utilities provider’s stock valued at $9,637,000 after acquiring an additional 2,000 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Portland General Electric by 821.4% during the 3rd quarter. Quest Partners LLC now owns 8,551 shares of the utilities provider’s stock worth $410,000 after buying an additional 7,623 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Portland General Electric by 12.2% during the 3rd quarter. Pathstone Holdings LLC now owns 29,632 shares of the utilities provider’s stock worth $1,421,000 after buying an additional 3,232 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Portland General Electric during the 3rd quarter worth approximately $1,539,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Portland General Electric by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after buying an additional 13,720 shares in the last quarter.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of research analyst reports. Evercore ISI increased their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Barclays increased their price target on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp cut their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH cut 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Trading Down 1.4 %

NYSE POR opened at $43.73 on Monday. The firm has a market capitalization of $4.79 billion, a P/E ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. The business has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $45.18. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. 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 (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the prior year, the firm posted $0.67 EPS. On average, analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is currently 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.