Dean Capital Management Lowers Stock Position in Portland General Electric (NYSE:POR)

Dean Capital Management trimmed its position in Portland General Electric (NYSE:POR) by 66.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,152 shares of the utilities provider’s stock after selling 30,548 shares during the period. Dean Capital Management’s holdings in Portland General Electric were worth $661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of Portland General Electric by 0.8% in the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock valued at $1,305,000 after acquiring an additional 245 shares in the last quarter. Captrust Financial Advisors boosted its position in Portland General Electric by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Portland General Electric by 4.2% in the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider’s stock valued at $318,000 after purchasing an additional 291 shares during the period. Texas Yale Capital Corp. increased its position in shares of Portland General Electric by 2.6% during the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider’s stock valued at $520,000 after purchasing an additional 300 shares during the last quarter. Finally, Choreo LLC raised its stake in shares of Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after purchasing an additional 371 shares during the period.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Performance

NYSE:POR opened at $42.59 on Thursday. The stock has a market cap of $4.66 billion, a P/E ratio of 14.15, a PEG ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $43.24 and its two-hundred day moving average price is $44.04. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85.

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

Portland General Electric Increases Dividend

The company also recently declared 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 represents a $2.10 annualized dividend and a yield of 4.93%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is 73.94%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $50.00 in a report on Monday. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. LADENBURG THALM/SH SH downgraded 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. Jefferies Financial Group dropped their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.40.

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.