Cullen Capital Management LLC Sells 1,026 Shares of Portland General Electric (NYSE:POR)

Cullen Capital Management LLC reduced its stake in shares of Portland General Electric (NYSE:POR) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,099 shares of the utilities provider’s stock after selling 1,026 shares during the quarter. Cullen Capital Management LLC’s holdings in Portland General Electric were worth $659,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System grew its position in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after acquiring an additional 245 shares during the last quarter. Choreo LLC grew its holdings in shares of Portland General Electric by 1.4% in the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after purchasing an additional 371 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares during the period. Trust Co. of Vermont raised its holdings in Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock valued at $372,000 after buying an additional 465 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Portland General Electric by 2.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider’s stock valued at $938,000 after buying an additional 500 shares during the last quarter.

Portland General Electric Stock Performance

Shares of POR stock opened at $42.69 on Friday. The company’s fifty day moving average price is $43.28 and its 200-day moving average price is $44.89. The stock has a market cap of $4.68 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, equities analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Barclays upped their target price on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric 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.