Brown Advisory Inc. Sells 35,265 Shares of Portland General Electric (NYSE:POR)

Brown Advisory Inc. lowered its stake in Portland General Electric (NYSE:PORFree Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 665,143 shares of the utilities provider’s stock after selling 35,265 shares during the quarter. Brown Advisory Inc.’s holdings in Portland General Electric were worth $28,827,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of POR. Channing Capital Management LLC bought a new position in Portland General Electric in the fourth quarter valued at approximately $49,763,000. Victory Capital Management Inc. raised its holdings in shares of Portland General Electric by 69.3% in the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock valued at $42,133,000 after purchasing an additional 425,923 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Portland General Electric by 103.5% in the fourth quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider’s stock valued at $22,005,000 after purchasing an additional 258,275 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Portland General Electric by 384.1% in the fourth quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider’s stock valued at $13,945,000 after purchasing an additional 255,292 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Portland General Electric by 12.8% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock worth $78,728,000 after buying an additional 220,674 shares during the last quarter.

Portland General Electric Trading Down 0.6 %

POR opened at $44.99 on Monday. The company’s 50 day moving average is $42.40 and its 200-day moving average is $41.89. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $50.23. 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 company has a market cap of $4.64 billion, a P/E ratio of 17.24 and a beta of 0.56.

Portland General Electric (NYSE:PORGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $828.94 million. During the same period last year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts predict that Portland General Electric will post 3.08 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. Investors of record on Friday, May 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is 72.80%.

Insider Activity at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were 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 SEC, which can be accessed through this link. In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the firm’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 value of $88,600.00. Following the completion of the transaction, the senior vice president now owns 16,763 shares in the company, valued at approximately $742,600.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the transaction, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on POR. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $47.00 to $45.00 in a report on Monday, January 29th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Mizuho lifted their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays reduced their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

View Our Latest Stock Analysis 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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