Portland General Electric (NYSE:POR - Get Free Report) VP Brett Michael Sims sold 963 shares of the firm's stock in a transaction dated Wednesday, May 22nd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Portland General Electric Trading Down 0.4 %
Shares of NYSE POR traded down $0.16 during trading hours on Friday, hitting $43.58. 25,047 shares of the company traded hands, compared to its average volume of 968,658. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 16.76 and a beta of 0.56. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The company's 50 day moving average price is $42.59 and its 200 day moving average price is $41.96. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $50.18.
Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. Portland General Electric's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current fiscal year.
Portland General Electric Increases Dividend
AI's Next Magnificent Seven
From The Oxford Club | Ad
The Original Magnificent Seven Produced 16,894% Average Returns Over 20 Years.
See His Breakdown of the Seven Stocks You Should Own Here.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, May 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, June 21st. This is an increase from Portland General Electric's previous quarterly dividend of $0.48. Portland General Electric's dividend payout ratio is 72.80%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Mizuho boosted their price target on Portland General Electric from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, May 16th. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, April 30th. Barclays lowered their price target on Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. Finally, Bank of America downgraded Portland General Electric from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Portland General Electric presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.
Check Out Our Latest Analysis on POR
Institutional Investors Weigh In On Portland General Electric
Several hedge funds have recently made changes to their positions in POR. Johnson Financial Group Inc. purchased a new stake in shares of Portland General Electric in the 4th quarter worth $25,000. LRI Investments LLC purchased a new stake in shares of Portland General Electric during the 1st quarter worth $26,000. Fifth Third Bancorp lifted its stake in shares of Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider's stock worth $27,000 after purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Portland General Electric during the 4th quarter worth $33,000. Finally, Mather Group LLC. purchased a new stake in shares of Portland General Electric during the 1st quarter worth $34,000.
About Portland General Electric
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
