Insider Selling: Portland General Electric (NYSE:POR) COO Sells $142,100.00 in Stock

Portland General Electric (NYSE:POR) COO Benjamin Felton sold 3,500 shares of Portland General Electric 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 sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $42.83 on Friday. The stock’s 50-day simple moving average is $41.03 and its 200-day simple moving average is $41.37. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $51.58. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 18.38 and a beta of 0.57. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The business had revenue of $725.00 million during the quarter, compared to analysts’ expectations of $740.21 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. Portland General Electric’s revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.67%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is presently 81.55%.

Wall Street Analyst Weigh In

Several analysts recently commented on POR shares. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $47.00 to $45.00 in a report on Monday, January 29th. Mizuho reaffirmed a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Barclays cut their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $43.00 in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.13.

Hedge Funds Weigh In On Portland General Electric

Several large investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its position in shares of Portland General Electric by 1,022.6% in the second quarter. Alliancebernstein L.P. now owns 3,105,863 shares of the utilities provider’s stock worth $145,448,000 after buying an additional 2,829,184 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Portland General Electric by 86.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,554,741 shares of the utilities provider’s stock worth $119,639,000 after buying an additional 1,187,890 shares in the last quarter. Channing Capital Management LLC purchased a new stake in shares of Portland General Electric in the fourth quarter worth about $49,763,000. Wellington Management Group LLP lifted its position in shares of Portland General Electric by 21.8% in the first quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after buying an additional 1,087,996 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Portland General Electric by 37.2% in the second quarter. State Street Corp now owns 3,339,567 shares of the utilities provider’s stock worth $162,473,000 after buying an additional 905,308 shares in the last quarter.

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.