Penn Capital Management Company LLC Sells 336 Shares of Portland General Electric (NYSE:POR)

Penn Capital Management Company LLC lowered its holdings in shares of Portland General Electric (NYSE:POR) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,754 shares of the utilities provider’s stock after selling 336 shares during the period. Penn Capital Management Company LLC’s holdings in Portland General Electric were worth $513,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of POR. Nordea Investment Management AB raised its stake in Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after acquiring an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after purchasing an additional 81,701 shares during the last quarter. Synergy Asset Management LLC increased its position in Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock worth $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Blair William & Co. IL lifted its stake in Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 692 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Portland General Electric by 3.7% during the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after acquiring an additional 5,084 shares in the last quarter.

Portland General Electric Price Performance

POR stock opened at $42.97 on Friday. 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 business has a 50-day simple moving average of $43.62 and a two-hundred day simple moving average of $44.37. The company has a market capitalization of $4.71 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results 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. The company had revenue of $824.00 million for 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 quarter in the previous year, the firm earned $0.67 earnings per share. Research analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Tuesday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Analyst Ratings Changes

POR has been the topic of several recent research reports. 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 on the stock. in a report on Tuesday, February 18th. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Barclays upped their price objective on shares of Portland General Electric from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.89.

Insider Buying and Selling

In other news, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction that occurred on 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 directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is owned by 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.