Amalgamated Bank Buys 947 Shares of Portland General Electric (NYSE:POR)

Amalgamated Bank increased its holdings in shares of Portland General Electric (NYSE:POR) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 48,125 shares of the utilities provider’s stock after purchasing an additional 947 shares during the quarter. Amalgamated Bank’s holdings in Portland General Electric were worth $2,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth approximately $29,000. Versant Capital Management Inc raised its stake in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Portland General Electric during the fourth quarter worth approximately $71,000. International Assets Investment Management LLC raised its stake in shares of Portland General Electric by 4,690.5% during the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after buying an additional 1,970 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Portland General Electric by 59.3% during the fourth quarter. KBC Group NV now owns 3,649 shares of the utilities provider’s stock worth $159,000 after buying an additional 1,359 shares during the last quarter.

Portland General Electric Stock Performance

Shares of POR opened at $44.85 on Monday. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85. The firm has a fifty day simple moving average of $42.42 and a 200 day simple moving average of $45.52. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.11 and a beta of 0.61. 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 announced 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. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter last year, the company posted $0.67 earnings per share. Research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 4.46%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on POR. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Bank of America lowered their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Barclays reduced their price target 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. Finally, Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.44.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

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.