Anchor Capital Advisors LLC Lowers Stake in Portland General Electric (NYSE:POR)

Anchor Capital Advisors LLC cut its holdings in Portland General Electric (NYSE:POR) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 820,713 shares of the utilities provider’s stock after selling 49,875 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Portland General Electric were worth $35,799,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. increased its position in Portland General Electric by 35.5% in the 4th quarter. QRG Capital Management Inc. now owns 55,344 shares of the utilities provider’s stock valued at $2,414,000 after acquiring an additional 14,512 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Portland General Electric by 3.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,543 shares of the utilities provider’s stock valued at $852,000 after purchasing an additional 609 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Portland General Electric by 2.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider’s stock valued at $938,000 after purchasing an additional 500 shares during the period. Amalgamated Bank raised its stake in shares of Portland General Electric by 2.0% during the fourth quarter. Amalgamated Bank now owns 48,125 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 947 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Portland General Electric by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after purchasing an additional 138,831 shares during the period.

Portland General Electric Price Performance

POR stock opened at $44.10 on Friday. The firm has a 50 day moving average of $42.40 and a 200-day moving average of $45.55. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.11 and a beta of 0.61. 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 $39.49 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data 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 firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.67 earnings per share. As a group, equities analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.54%. Portland General Electric’s payout ratio is 66.45%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value 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. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on POR shares. Bank of America dropped their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group dropped their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, February 18th. KeyCorp lowered their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Evercore ISI increased their target price on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $46.44.

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.