Tocqueville Asset Management L.P. Sells 2,500 Shares of Portland General Electric (NYSE:POR)

Tocqueville Asset Management L.P. lowered its position in Portland General Electric (NYSE:POR) by 32.5% during the 4th quarter, Holdings Channel reports. The fund owned 5,200 shares of the utilities provider’s stock after selling 2,500 shares during the period. Tocqueville Asset Management L.P.’s holdings in Portland General Electric were worth $227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares during the period. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after buying an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its holdings in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the last quarter. Channing Capital Management LLC increased its position in shares of Portland General Electric by 7.2% during the fourth quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock worth $79,906,000 after acquiring an additional 123,223 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Portland General Electric by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after acquiring an additional 138,831 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut their price target 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. Bank of America decreased their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Finally, UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Price Performance

POR opened at $44.31 on Friday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The firm has a 50-day moving average of $42.74 and a 200 day moving average of $45.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a market cap of $4.85 billion, a P/E ratio of 14.72, a PEG ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last issued 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. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same quarter last year, the business posted $0.67 EPS. On average, research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s dividend payout ratio is presently 66.45%.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s 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 sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

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.