Portland General Electric (NYSE:POR) Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Portland General Electric (NYSE:POR) by 281.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 32,599 shares of the utilities provider’s stock after purchasing an additional 24,048 shares during the quarter. AlphaQuest LLC’s holdings in Portland General Electric were worth $1,422,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. Versor Investments LP grew its position in Portland General Electric by 28.9% during the 3rd quarter. Versor Investments LP now owns 31,468 shares of the utilities provider’s stock worth $1,507,000 after purchasing an additional 7,062 shares during the period. GSA Capital Partners LLP grew its position in Portland General Electric by 117.8% during the 3rd quarter. GSA Capital Partners LLP now owns 16,294 shares of the utilities provider’s stock worth $780,000 after purchasing an additional 8,814 shares during the period. OneDigital Investment Advisors LLC grew its position in Portland General Electric by 27.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,991 shares of the utilities provider’s stock worth $335,000 after purchasing an additional 1,486 shares during the period. Natixis Advisors LLC grew its position in Portland General Electric by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 318,491 shares of the utilities provider’s stock worth $15,256,000 after purchasing an additional 6,178 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in Portland General Electric by 72.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after purchasing an additional 530,020 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on POR. Evercore ISI increased their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Barclays increased their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group reissued a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, KeyCorp lowered their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Up 1.3 %

Shares of Portland General Electric stock opened at $44.51 on Monday. The firm has a market capitalization of $4.87 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm’s 50-day moving average price is $42.48 and its 200 day moving average price is $45.43. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period last year, the company posted $0.67 EPS. On average, sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. Portland General Electric’s payout ratio is 66.45%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

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.