Cbre Investment Management Listed Real Assets LLC Cuts Position in Portland General Electric (NYSE:POR)

Cbre Investment Management Listed Real Assets LLC lowered its stake in Portland General Electric (NYSE:POR) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,154,914 shares of the utilities provider’s stock after selling 234,169 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Portland General Electric were worth $50,377,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Portland General Electric in the third quarter valued at about $596,000. Nordea Investment Management AB grew its stake in shares of Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after buying an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after buying an additional 81,701 shares in the last quarter. Synergy Asset Management LLC grew its stake in shares of Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after buying an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after buying an additional 10,643 shares in the last quarter.

Portland General Electric Trading Down 1.7 %

Shares of NYSE POR opened at $44.48 on Wednesday. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50 day simple moving average is $42.46 and its 200 day simple moving average is $45.49.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter last year, the business posted $0.67 EPS. Equities research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on POR. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday. Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. Jefferies Financial Group lowered their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, KeyCorp lowered their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.00.

Insider Buying and Selling

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

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.