Legato Capital Management LLC Sells 17,374 Shares of Portland General Electric (NYSE:POR)

Legato Capital Management LLC lowered its position in Portland General Electric (NYSE:POR) by 64.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,528 shares of the utilities provider’s stock after selling 17,374 shares during the period. Legato Capital Management LLC’s holdings in Portland General Electric were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in POR. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $29,000. Allworth Financial LP raised its stake in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $71,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on POR. UBS Group reissued a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays dropped their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. KeyCorp decreased their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.38.

Portland General Electric Trading Down 1.2 %

NYSE POR opened at $41.62 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The firm’s fifty day moving average price is $42.67 and its 200 day moving average price is $45.78. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.61. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is currently 59.70%.

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.