Price T Rowe Associates Inc. MD Has $6.62 Million Stake in Portland General Electric (NYSE:POR)

Price T Rowe Associates Inc. MD increased its position in shares of Portland General Electric (NYSE:POR) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,644 shares of the utilities provider’s stock after purchasing an additional 28,589 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.14% of Portland General Electric worth $6,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in POR. Newbridge Financial Services Group Inc. acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 769 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric during the 4th quarter worth $52,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,096 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on POR. Wells Fargo & Company reduced their price objective 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. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Evercore ISI cut their target price on 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. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.10.

Portland General Electric Stock Up 0.6 %

Shares of NYSE POR opened at $41.80 on Friday. The company has a 50 day simple moving average of $43.36 and a 200 day simple moving average of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The firm has a market cap of $4.58 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. Portland General Electric’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. On average, research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

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

Insider Buying and Selling

In other news, EVP Benjamin Felton sold 1,845 shares of the business’s 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 transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock valued at $159,946 over the last ninety days. 0.40% of the stock is owned by company insiders.

Portland General Electric 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.