Whittier Trust Co. Sells 101,243 Shares of Portland General Electric (NYSE:POR)

Whittier Trust Co. lessened its holdings in Portland General Electric (NYSE:POR) by 97.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,103 shares of the utilities provider’s stock after selling 101,243 shares during the quarter. Whittier Trust Co.’s holdings in Portland General Electric were worth $135,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric in the fourth quarter valued at about $29,000. Versant Capital Management Inc boosted its position 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 valued at $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 769 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 1,096 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric in the fourth quarter valued at about $71,000.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on 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. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Down 1.4 %

Shares of NYSE POR opened at $43.73 on Monday. 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 company has a market cap of $4.79 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The stock has a 50-day moving average price of $42.80 and a two-hundred day moving average price of $45.18.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on POR shares. Bank of America dropped their price target 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. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. KeyCorp dropped their price target 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. Jefferies Financial Group dropped 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. Finally, Barclays boosted their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.00.

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.