American International Group Inc. Sells 3,759 Shares of Portland General Electric (NYSE:POR)

American International Group Inc. lowered its position in shares of Portland General Electric (NYSE:POR) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,337 shares of the utilities provider’s stock after selling 3,759 shares during the period. American International Group Inc. owned about 0.18% of Portland General Electric worth $8,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after buying an additional 1,017,503 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Portland General Electric by 6.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock worth $119,575,000 after buying an additional 161,432 shares during the period. Principal Financial Group Inc. lifted its holdings in Portland General Electric by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock worth $85,238,000 after buying an additional 100,496 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Portland General Electric by 12.8% during the 3rd 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 period. Finally, Dimensional Fund Advisors LP lifted its holdings in Portland General Electric by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after buying an additional 140,151 shares during the period.

Portland General Electric Stock Down 1.3 %

POR stock opened at $42.42 on Thursday. The stock’s 50 day simple moving average is $43.38 and its 200 day simple moving average is $42.27. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The company has a market cap of $4.37 billion, a P/E ratio of 16.25 and a beta of 0.58.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. During the same period in the prior year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, research analysts expect that Portland General Electric will post 3.09 earnings per share 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. Investors of record on Monday, June 24th will be paid a dividend of $0.50 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on POR. Mizuho lifted their target price on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Barclays dropped their price objective on 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. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Insider Buying and Selling

In related news, VP Brett Michael Sims sold 963 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the transaction, the vice president now directly owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Portland General Electric news, VP Brett Michael Sims sold 963 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the sale, the vice president now directly owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now directly owns 16,763 shares of the company’s stock, valued at $742,600.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,463 shares of company stock valued at $274,064. 0.54% of the stock is owned by company insiders.

Portland General Electric 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.