Brown Advisory Inc. lessened its stake in shares of Portland General Electric (NYSE:POR – Get Rating) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 730,836 shares of the utilities provider’s stock after selling 30,896 shares during the period. Brown Advisory Inc. owned about 0.82% of Portland General Electric worth $35,811,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its stake in Portland General Electric by 308.8% in the third quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock valued at $36,000 after buying an additional 630 shares during the period. EverSource Wealth Advisors LLC raised its stake in Portland General Electric by 475.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 995 shares of the utilities provider’s stock valued at $49,000 after buying an additional 822 shares during the period. Ronald Blue Trust Inc. raised its stake in Portland General Electric by 78.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,547 shares of the utilities provider’s stock valued at $67,000 after buying an additional 681 shares during the period. CI Investments Inc. raised its stake in Portland General Electric by 54.6% in the fourth quarter. CI Investments Inc. now owns 1,435 shares of the utilities provider’s stock valued at $70,000 after buying an additional 507 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Portland General Electric by 145.2% in the third quarter. Quadrant Capital Group LLC now owns 1,908 shares of the utilities provider’s stock valued at $83,000 after buying an additional 1,130 shares during the period. Institutional investors own 97.03% of the company’s stock.
Insiders Place Their Bets
In other Portland General Electric news, VP John Teeruk Kochavatr sold 3,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $51.12, for a total transaction of $153,360.00. Following the completion of the sale, the vice president now directly owns 15,489 shares in the company, valued at $791,797.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on POR. JPMorgan Chase & Co. began coverage on Portland General Electric in a research note on Monday, May 8th. They issued an “overweight” rating and a $56.00 price objective on the stock. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Credit Suisse Group upped their target price on Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. Bank of America raised Portland General Electric from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $52.00 in a research report on Tuesday, March 14th. Finally, Wells Fargo & Company upped their target price on Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average price target of $50.57.
Portland General Electric Trading Down 0.4 %
Shares of NYSE:POR opened at $49.75 on Friday. The company has a market capitalization of $4.81 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.22 and a beta of 0.58. Portland General Electric has a 1 year low of $41.58 and a 1 year high of $56.37. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.02 and a quick ratio of 0.89. The business’s 50 day simple moving average is $49.94 and its 200 day simple moving average is $48.72.
Portland General Electric (NYSE:POR – Get Rating) last released its earnings results on Friday, April 28th. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Portland General Electric had a return on equity of 9.06% and a net margin of 8.88%. The firm had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $622.50 million. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts anticipate that Portland General Electric will post 2.68 EPS for the current fiscal year.
Portland General Electric Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, June 26th will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, June 23rd. This is a boost from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 3.82%. Portland General Electric’s dividend payout ratio is presently 66.30%.
About Portland General Electric
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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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.
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