25,138 Shares in Portland General Electric (NYSE:POR) Purchased by Cullen Capital Management LLC
Cullen Capital Management LLC bought a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 25,138 shares of the utilities provider's stock, valued at approximately $1,089 Cullen Capital Management LLC purchased 25,138 shares in Portland General Electric (NYSE:POR) in the fourth quarter, valuing the company at approximately $1,089,000. The firm also acquired shares in shares of Fifth Third Bancorp, which increased its position in shares by 181.8% during the same period. BKM Wealth Management LLC acquired a new stake in shares during the 4th quarter worth about $33,000 and McGlone Suttner Wealth Management Inc. acquired a third stake in the company. The company recently disclosed a quarterly dividend of $0.50 per share, a change from the previous $0.,48.
Pubblicato : 11 mesi fa di MarketBeat in Finance
Cullen Capital Management LLC bought a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 25,138 shares of the utilities provider's stock, valued at approximately $1,089,000.
A number of other hedge funds have also made changes to their positions in POR. Johnson Financial Group Inc. acquired a new stake in shares of Portland General Electric during the 4th quarter worth about $25,000. Fifth Third Bancorp increased its position in shares of Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider's stock worth $27,000 after purchasing an additional 409 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Portland General Electric during the 4th quarter worth about $33,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Portland General Electric during the 4th quarter worth about $38,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Portland General Electric during the 4th quarter worth about $38,000.
Shares of NYSE POR opened at $42.93 on Tuesday. The firm has a market capitalization of $4.42 billion, a PE ratio of 16.45 and a beta of 0.58. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.77. The firm's 50-day moving average is $43.21 and its 200-day moving average is $42.21.
Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. Equities analysts expect that Portland General Electric will post 3.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 24th will be paid a dividend of $0.50 per share. This is a positive change from Portland General Electric's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, June 24th. This represents a $2.00 annualized dividend and a yield of 4.66%. Portland General Electric's dividend payout ratio (DPR) is presently 72.80%.
Several research firms have weighed in on POR. Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, February 21st. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Tuesday, April 30th. Finally, Mizuho raised their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.
Get Our Latest Stock Analysis on POR
In related news, VP Brett Michael Sims sold 963 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $45.03, for a total transaction of $43,363.89. Following the transaction, the vice president now owns 13,996 shares of the company's stock, valued at approximately $630,239.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Portland General Electric 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 transaction of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brett Michael Sims sold 963 shares of the firm's stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the sale, the vice president now owns 13,996 shares in the company, valued at $630,239.88. The disclosure for this sale can be found here. Insiders have sold 6,463 shares of company stock valued at $274,064 in the last 90 days. 0.54% of the stock is owned by insiders.
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.
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