Maria Angelica Espinosa Sells 2,000 Shares of Portland General Electric (NYSE:POR) Stock

Portland General Electric (NYSE:POR) SVP Maria Angelica Espinosa sold 2,000 shares of the company’s 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 filing with the SEC, which is available at this link.

Portland General Electric Price Performance

NYSE:POR traded down $0.26 during trading hours on Wednesday, hitting $44.17. 124,252 shares of the stock traded hands, compared to its average volume of 988,070. The stock has a 50 day moving average price of $41.76 and a 200 day moving average price of $41.63. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 17.03 and a beta of 0.56. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.39.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share 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 company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Portland General Electric’s quarterly revenue was up 24.2% compared to the same quarter last year. Sell-side analysts forecast that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.53%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. Portland General Electric’s dividend payout ratio is currently 72.80%.

Institutional Trading of Portland General Electric

A number of hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. purchased a new stake in Portland General Electric in the fourth quarter valued at $25,000. Fifth Third Bancorp lifted its holdings in Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 409 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Portland General Electric during the 4th quarter worth approximately $33,000. Mather Group LLC. purchased a new stake in shares of Portland General Electric in the first quarter valued at approximately $34,000. Finally, Allworth Financial LP increased its holdings in shares of Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 261 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and set a $42.00 price target (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Barclays decreased their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $43.00 in a report on Monday, February 5th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.13.

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.