Maria Angelica Espinosa Sells 2,000 Shares of Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR) SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Portland General Electric Trading Up 1.4 %

NYSE POR opened at $44.68 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $51.39. The stock has a market capitalization of $4.60 billion, a PE ratio of 17.12 and a beta of 0.56. The firm has a 50 day moving average of $41.92 and a two-hundred day moving average of $41.67.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was up 24.2% on a year-over-year basis. As a group, research analysts expect that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is 72.80%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its holdings in shares of Portland General Electric by 4.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,109 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 1,370 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Portland General Electric by 1.0% in the 1st quarter. ProShare Advisors LLC now owns 948,014 shares of the utilities provider’s stock valued at $39,817,000 after buying an additional 9,786 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Portland General Electric by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 202,334 shares of the utilities provider’s stock valued at $8,498,000 after buying an additional 12,558 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Portland General Electric by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 140,826 shares of the utilities provider’s stock valued at $5,915,000 after buying an additional 5,603 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Portland General Electric by 25.9% in the 1st quarter. SG Americas Securities LLC now owns 6,994 shares of the utilities provider’s stock valued at $294,000 after buying an additional 1,439 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

About Portland General Electric

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.