Leeward Investments LLC MA Sells 22,469 Shares of Portland General Electric (NYSE:POR)

Leeward Investments LLC MA decreased its stake in Portland General Electric (NYSE:POR) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 524,232 shares of the utilities provider’s stock after selling 22,469 shares during the period. Portland General Electric accounts for about 1.0% of Leeward Investments LLC MA’s holdings, making the stock its 23rd biggest position. Leeward Investments LLC MA’s holdings in Portland General Electric were worth $22,018,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its stake in Portland General Electric by 2.1% in the first quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after purchasing an additional 500 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Portland General Electric by 140.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after buying an additional 537 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of Portland General Electric during the 1st quarter worth $700,000. Fox Hill Wealth Management increased its holdings in Portland General Electric by 5.6% in the 1st quarter. Fox Hill Wealth Management now owns 26,991 shares of the utilities provider’s stock worth $1,134,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Scharf Investments LLC raised its stake in Portland General Electric by 13.0% in the 1st quarter. Scharf Investments LLC now owns 79,212 shares of the utilities provider’s stock valued at $3,327,000 after acquiring an additional 9,139 shares during the period.

Wall Street Analysts Forecast Growth

POR has been the subject of several recent research reports. Mizuho lifted their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Insider Transactions at Portland General Electric

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the transaction, the senior vice president now owns 16,763 shares of the company’s stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,463 shares of company stock valued at $274,064. 0.54% of the stock is owned by corporate insiders.

Portland General Electric Price Performance

NYSE:POR traded down $0.10 during mid-day trading on Thursday, hitting $42.44. 639,487 shares of the stock traded hands, compared to its average volume of 1,000,853. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.72. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The company has a market cap of $4.37 billion, a PE ratio of 16.26 and a beta of 0.58. The business’s 50-day moving average price is $43.53 and its 200 day moving average price is $42.25.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same period in the previous year, the business earned $0.80 EPS. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, analysts expect that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Monday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Portland General Electric Company 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.