Portland General Electric (NYSE:POR) COO Benjamin Felton Sells 3,500 Shares of Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Portland General Electric Price Performance

Shares of POR stock opened at $40.98 on Thursday. The firm has a market cap of $4.15 billion, a P/E ratio of 17.59 and a beta of 0.57. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58. The business’s 50 day moving average price is $40.96 and its 200-day moving average price is $41.37. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The business had revenue of $725.00 million during the quarter, compared to the consensus estimate of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. Portland General Electric’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, equities research analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.64%. Portland General Electric’s dividend payout ratio is currently 81.55%.

Analysts Set New Price Targets

Several equities analysts have recently commented on POR shares. Mizuho reiterated a “neutral” rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Barclays reduced their price objective on 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. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and a consensus target price of $45.13.

Institutional Investors Weigh In On Portland General Electric

A number of large investors have recently made changes to their positions in POR. Vanguard Group Inc. lifted its stake in shares of Portland General Electric by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,268,761 shares of the utilities provider’s stock valued at $489,739,000 after purchasing an additional 848,958 shares during the period. Wellington Management Group LLP lifted its stake in shares of Portland General Electric by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock valued at $334,647,000 after purchasing an additional 1,087,996 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Portland General Electric by 29.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after purchasing an additional 1,017,503 shares during the period. State Street Corp lifted its stake in shares of Portland General Electric by 5.1% in the 2nd quarter. State Street Corp now owns 3,615,988 shares of the utilities provider’s stock valued at $170,996,000 after purchasing an additional 174,695 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Portland General Electric by 7.8% in the 1st quarter. JPMorgan Chase & Co. now owns 3,163,031 shares of the utilities provider’s stock valued at $154,641,000 after purchasing an additional 228,283 shares during the period.

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.