Portland General Electric (NYSE:POR) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of Portland General Electric (NYSE:POR) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,153 shares of the utilities provider’s stock after selling 553 shares during the period. M&T Bank Corp’s holdings in Portland General Electric were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in Portland General Electric by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,064,269 shares of the utilities provider’s stock valued at $46,423,000 after purchasing an additional 11,346 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Portland General Electric by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,313,282 shares of the utilities provider’s stock valued at $57,285,000 after purchasing an additional 35,216 shares during the last quarter. State of Michigan Retirement System grew its holdings in Portland General Electric by 2.0% in the fourth quarter. State of Michigan Retirement System now owns 25,000 shares of the utilities provider’s stock valued at $1,090,000 after purchasing an additional 500 shares during the last quarter. Connable Office Inc. grew its holdings in Portland General Electric by 10.9% in the fourth quarter. Connable Office Inc. now owns 5,339 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 523 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in Portland General Electric by 64.3% in the fourth quarter. Jacobi Capital Management LLC now owns 12,571 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 4,919 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on POR. Barclays upped their target price on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, Evercore ISI upped their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

Portland General Electric Stock Performance

NYSE POR opened at $43.55 on Thursday. The business’s 50-day moving average price is $42.53 and its 200 day moving average price is $45.38. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The company has a market capitalization of $4.77 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business posted $0.67 earnings per share. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.59%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently 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.