Portland General Electric (NYSE:POR) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP increased its position in shares of Portland General Electric (NYSE:POR) by 133.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 293,393 shares of the utilities provider’s stock after buying an additional 167,715 shares during the period. Marshall Wace LLP owned about 0.28% of Portland General Electric worth $12,798,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in POR. Sanctuary Advisors LLC increased its position in shares of Portland General Electric by 53.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider’s stock valued at $678,000 after purchasing an additional 4,936 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Portland General Electric by 114.1% during the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after purchasing an additional 81,701 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Portland General Electric by 1.6% in the third quarter. Lord Abbett & CO. LLC now owns 1,062,663 shares of the utilities provider’s stock valued at $50,902,000 after buying an additional 17,021 shares during the last quarter. Versant Capital Management Inc raised its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after buying an additional 19,057 shares during the last quarter.

Portland General Electric Stock Performance

NYSE POR opened at $42.39 on Tuesday. The business’s 50-day moving average price is $43.53 and its 200 day moving average price is $44.41. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.64 billion, a P/E ratio of 14.08, a P/E/G 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 released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. On average, equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be issued a $0.525 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 4.95%. Portland General Electric’s payout ratio is presently 66.45%.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the firm’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 completion of the sale, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock worth $159,946 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Evercore ISI increased their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. UBS Group reissued a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Finally, StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $45.78.

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.