Outlook Wealth Advisors LLC Trims Stock Holdings in Portland General Electric (NYSE:POR)

Outlook Wealth Advisors LLC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,907 shares of the utilities provider’s stock after selling 633 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Portland General Electric were worth $332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in shares of Portland General Electric in the fourth quarter worth $25,000. Fifth Third Bancorp raised its stake in shares of Portland General Electric by 181.8% in the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 409 shares in the last quarter. Spirit of America Management Corp NY bought a new position in shares of Portland General Electric during the third quarter worth about $32,000. BKM Wealth Management LLC acquired a new position in Portland General Electric in the fourth quarter worth about $33,000. Finally, Mather Group LLC. acquired a new stake in Portland General Electric during the first quarter valued at approximately $34,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on POR shares. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Mizuho restated a “neutral” rating and issued a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays dropped their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Bank of America lowered Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Finally, UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average price target of $45.13.

Portland General Electric Price Performance

Shares of POR stock traded down $0.45 during midday trading on Friday, reaching $42.80. 1,517,939 shares of the company were exchanged, compared to its average volume of 881,118. The company’s 50 day moving average price is $41.37 and its two-hundred day moving average price is $41.51. The company has a market cap of $4.33 billion, a P/E ratio of 18.37 and a beta of 0.57. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts expect that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be given a $0.50 dividend. The ex-dividend date is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.67%. Portland General Electric’s payout ratio is 85.84%.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

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.