Clearbridge Investments LLC Sells 4,329 Shares of Portland General Electric (NYSE:POR)

Clearbridge Investments LLC decreased its stake in shares of Portland General Electric (NYSE:POR) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 464,970 shares of the utilities provider’s stock after selling 4,329 shares during the period. Clearbridge Investments LLC’s holdings in Portland General Electric were worth $20,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock valued at $519,651,000 after acquiring an additional 572,531 shares in the last quarter. State Street Corp boosted its position in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after purchasing an additional 66,438 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock worth $145,403,000 after purchasing an additional 93,903 shares during the period. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after purchasing an additional 25,332 shares in the last quarter. Finally, Zimmer Partners LP lifted its position in Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the period.

Insider Transactions at Portland General Electric

In other Portland General Electric 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 of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

POR has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. UBS Group reaffirmed a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Jefferies Financial Group dropped their price target 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. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $47.00.

Portland General Electric Stock Up 0.3 %

POR stock opened at $44.75 on Wednesday. The stock has a market capitalization of $4.90 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The business has a fifty day moving average price of $43.11 and a 200-day moving average price of $44.97.

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

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

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.