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

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Portland General Electric Trading Up 2.6 %

Shares of POR opened at $42.83 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average is $41.03 and its two-hundred day moving average is $41.37. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The firm has a market capitalization of $4.33 billion, a P/E ratio of 18.38 and a beta of 0.57.

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

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be given a $0.50 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 4.67%. Portland General Electric’s dividend payout ratio is currently 81.55%.

Institutional Trading of Portland General Electric

Several large investors have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new stake in Portland General Electric during the fourth quarter worth approximately $25,000. Fifth Third Bancorp boosted its position in Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 409 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Portland General Electric during the fourth quarter worth approximately $33,000. IMA Wealth Inc. boosted its position in Portland General Electric by 100.0% during the second quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 393 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in Portland General Electric during the first quarter worth approximately $34,000.

Wall Street Analyst Weigh In

POR has been the subject of a number of research reports. Mizuho reaffirmed a “neutral” rating and issued a $42.00 target price (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $43.00 in a report on Monday, February 5th. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the stock from $47.00 to $45.00 in a report on Monday, January 29th. Finally, Barclays cut their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.13.

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.