Heartland Advisors Inc. Sells 25,626 Shares of Portland General Electric (NYSE:POR)

Heartland Advisors Inc. decreased its holdings in shares of Portland General Electric (NYSE:PORFree Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 234,870 shares of the utilities provider’s stock after selling 25,626 shares during the quarter. Heartland Advisors Inc. owned 0.23% of Portland General Electric worth $10,961,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Leeward Investments LLC MA grew its stake in shares of Portland General Electric by 16.9% during the fourth quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider’s stock valued at $23,694,000 after buying an additional 79,052 shares during the last quarter. Comerica Bank grew its stake in Portland General Electric by 309.9% in the third quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock worth $7,046,000 after purchasing an additional 131,589 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Portland General Electric by 205.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock worth $3,338,000 after purchasing an additional 52,620 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Portland General Electric in the fourth quarter worth approximately $3,644,000. Finally, John G Ullman & Associates Inc. grew its stake in Portland General Electric by 11.7% in the fourth quarter. John G Ullman & Associates Inc. now owns 144,400 shares of the utilities provider’s stock worth $6,258,000 after purchasing an additional 15,150 shares in the last quarter.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the transaction, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares in the company, valued at approximately $742,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The disclosure for this sale can be found here. Insiders sold 5,940 shares of company stock worth $248,313 in the last 90 days. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 1.1 %

Shares of POR traded down $0.50 during midday trading on Tuesday, hitting $44.27. 785,859 shares of the company’s stock traded hands, compared to its average volume of 989,414. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.19. The firm’s fifty day moving average is $42.17 and its 200-day moving average is $41.79. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 16.96 and a beta of 0.56.

Portland General Electric (NYSE:PORGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be paid a $0.50 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.52%. Portland General Electric’s dividend payout ratio (DPR) is 72.80%.

Analysts Set New Price Targets

Several brokerages recently issued reports on POR. Mizuho reissued a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the company from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Finally, Barclays dropped their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.57.

Read Our Latest Research Report on POR

Portland General Electric Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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