Anchor Capital Advisors LLC Sells 85,050 Shares of Portland General Electric (NYSE:POR)

Anchor Capital Advisors LLC lowered its position in shares of Portland General Electric (NYSE:POR) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 987,493 shares of the utilities provider’s stock after selling 85,050 shares during the period. Anchor Capital Advisors LLC owned 0.98% of Portland General Electric worth $42,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock worth $27,000 after buying an additional 409 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Portland General Electric in the 4th quarter valued at $33,000. Allworth Financial LP boosted its holdings in shares of Portland General Electric by 44.0% in the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 261 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Portland General Electric in the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Portland General Electric in the 4th quarter valued at $38,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The stock was 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 in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on POR. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and reduced their target price for the company from $47.00 to $45.00 in a report on Monday, January 29th. Barclays lowered their target price on 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. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Finally, Mizuho reaffirmed a “neutral” rating and set a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.13.

Portland General Electric Stock Up 1.3 %

Portland General Electric stock traded up $0.57 during midday trading on Monday, reaching $43.37. The stock had a trading volume of 985,237 shares, compared to its average volume of 973,300. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58. The company has a market capitalization of $4.39 billion, a P/E ratio of 16.68 and a beta of 0.57. The company has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $41.50. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. 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 during the quarter, compared to analyst estimates of $828.94 million. During the same period in the previous year, the company posted $0.80 EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts expect that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is 72.80%.

About Portland General Electric

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.