Phocas Financial Corp. Has $1.27 Million Stock Holdings in Portland General Electric (NYSE:POR)

Phocas Financial Corp. cut its stake in Portland General Electric (NYSE:POR) by 85.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,107 shares of the utilities provider’s stock after selling 164,680 shares during the quarter. Portland General Electric makes up approximately 0.9% of Phocas Financial Corp.’s investment portfolio, making the stock its 29th largest holding. Phocas Financial Corp.’s holdings in Portland General Electric were worth $1,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the fourth quarter worth approximately $29,000. Allworth Financial LP boosted its position in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the period. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares in the last quarter. USA Financial Formulas bought a new position in Portland General Electric during the fourth quarter worth about $71,000. Finally, International Assets Investment Management LLC raised its stake in Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,970 shares in the last quarter.

Portland General Electric Stock Up 0.8 %

Portland General Electric stock opened at $44.65 on Wednesday. The firm has a 50 day moving average price of $42.39 and a two-hundred day moving average price of $45.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 52-week low of $39.49 and a 52-week high of $49.85. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS 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 business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter last year, the firm posted $0.67 earnings per share. Equities analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

Analyst Ratings Changes

POR has been the topic of several recent research reports. Barclays lowered their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.44.

Insiders Place Their Bets

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

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.