Portland General Electric (NYSE:POR) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lowered its position in Portland General Electric (NYSE:POR) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,002 shares of the utilities provider’s stock after selling 4,389 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Portland General Electric were worth $1,428,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new position in Portland General Electric in the 4th quarter worth $25,000. Fifth Third Bancorp lifted its holdings in Portland General Electric by 181.8% in the 4th 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 position in Portland General Electric in the 4th quarter worth $33,000. Mather Group LLC. acquired a new stake in shares of Portland General Electric in the 1st quarter valued at about $34,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Portland General Electric in the 4th quarter valued at about $38,000.

Insiders Place Their Bets

In other news, VP Brett Michael Sims sold 963 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total value of $43,363.89. Following the completion of the transaction, the vice president now directly owns 13,996 shares in the company, valued at $630,239.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the transaction, the senior vice president now directly owns 16,763 shares in the company, valued at $742,600.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brett Michael Sims sold 963 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the completion of the transaction, the vice president now owns 13,996 shares of the company’s stock, valued at $630,239.88. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

POR has been the topic of a number of recent analyst reports. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday. Barclays upped their target price on shares of Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Mizuho upped their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.86.

Portland General Electric Stock Performance

Shares of NYSE:POR traded up $0.94 during trading on Wednesday, reaching $47.70. 2,302,103 shares of the company’s stock traded hands, compared to its average volume of 973,308. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.72. The company has a 50 day moving average of $43.85 and a 200-day moving average of $42.41. The stock has a market capitalization of $4.91 billion, a P/E ratio of 18.28 and a beta of 0.58.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Portland General Electric’s quarterly revenue was up 24.2% on a year-over-year basis. On average, equities analysts expect that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

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.