JPMorgan Chase & Co. Raises Position in Portland General Electric (NYSE:POR)

JPMorgan Chase & Co. lifted its stake in Portland General Electric (NYSE:POR) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,333,393 shares of the utilities provider’s stock after purchasing an additional 93,903 shares during the period. JPMorgan Chase & Co.’s holdings in Portland General Electric were worth $145,403,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Portland General Electric in the third quarter worth about $534,000. Townsquare Capital LLC grew its stake in shares of Portland General Electric by 6.4% during the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after acquiring an additional 458 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Portland General Electric by 3.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,689 shares of the utilities provider’s stock worth $1,087,000 after acquiring an additional 670 shares in the last quarter. Martingale Asset Management L P bought a new stake in Portland General Electric during the 3rd quarter worth approximately $571,000. Finally, Walleye Capital LLC purchased a new position in Portland General Electric during the third quarter valued at approximately $211,000.

Portland General Electric Stock Performance

NYSE:POR opened at $44.75 on Wednesday. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The stock’s 50 day simple moving average is $43.11 and its two-hundred day simple moving average is $44.97. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping 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 net margin of 9.13% and a return on equity of 9.10%. During the same quarter in the previous year, the business posted $0.67 earnings per share. As a group, equities analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is 66.45%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following 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 filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on POR shares. Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. KeyCorp decreased their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Jefferies Financial Group dropped their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Finally, Barclays upped their price target on 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

About Portland General Electric

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.