ATLAS Infrastructure Partners UK Ltd. Sells 1,488,658 Shares of Portland General Electric (NYSE:POR)

ATLAS Infrastructure Partners UK Ltd. trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 47.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,663,824 shares of the utilities provider’s stock after selling 1,488,658 shares during the quarter. Portland General Electric comprises 17.4% of ATLAS Infrastructure Partners UK Ltd.’s holdings, making the stock its 3rd largest position. ATLAS Infrastructure Partners UK Ltd.’s holdings in Portland General Electric were worth $72,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after purchasing an additional 19,057 shares during the period. Franklin Resources Inc. raised its stake in Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after buying an additional 81,701 shares during the last quarter. Synergy Asset Management LLC lifted its holdings in Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after buying an additional 82,743 shares during the period. Blair William & Co. IL boosted its position in Portland General Electric by 13.2% during the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 692 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Portland General Electric by 3.7% during the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock worth $6,166,000 after acquiring an additional 5,084 shares during the period.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,795 shares of company stock worth $159,946 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on POR shares. Jefferies Financial Group dropped their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. Evercore ISI lowered their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Finally, Barclays decreased their price target on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.10.

Portland General Electric Trading Up 0.6 %

POR opened at $41.80 on Friday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The firm has a market capitalization of $4.58 billion, a PE ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The company’s 50-day moving average is $43.36 and its 200 day moving average is $44.16.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to analysts’ expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. As a group, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.02%. Portland General Electric’s dividend payout ratio (DPR) is 73.94%.

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.