Axa S.A. Sells 4,400 Shares of Portland General Electric (NYSE:POR)

Posted by on Mar 1st, 2023

Axa S.A. cut its position in Portland General Electric (NYSE:POR – Get Rating) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,001 shares of the utilities provider’s stock after selling 4,400 shares during the quarter. Axa S.A.’s holdings in Portland General Electric were worth $609,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Portland General Electric by 69.1% during the second quarter. Quadrant Capital Group LLC now owns 778 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 318 shares during the last quarter. Bessemer Group Inc. grew its stake in Portland General Electric by 308.8% in the third quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 630 shares during the period. Ronald Blue Trust Inc. acquired a new stake in Portland General Electric in the second quarter valued at approximately $47,000. Assetmark Inc. lifted its holdings in shares of Portland General Electric by 120.4% in the second quarter. Assetmark Inc. now owns 996 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 544 shares in the last quarter. Finally, American National Bank bought a new position in shares of Portland General Electric in the third quarter valued at approximately $50,000. 97.03% of the stock is currently owned by institutional investors.

Portland General Electric Price Performance

POR opened at $47.80 on Wednesday. The stock has a 50-day moving average price of $48.25 and a 200-day moving average price of $48.20. Portland General Electric has a 12-month low of $41.58 and a 12-month high of $57.03. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $4.27 billion, a P/E ratio of 18.38, a PEG ratio of 3.66 and a beta of 0.58.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, March 27th will be issued a $0.4525 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, March 24th. Portland General Electric’s dividend payout ratio is presently 69.62%.

Analysts Set New Price Targets

A number of brokerages recently commented on POR. Credit Suisse Group lifted their price target on Portland General Electric from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, February 21st. Wells Fargo & Company lifted their price target on Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. Finally, StockNews.com cut Portland General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Portland General Electric Profile

(Get Rating)

Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.

Featured Articles

Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.