Martingale Asset Management L P Buys Shares of 11,923 Portland General Electric (NYSE:POR)

Martingale Asset Management L P acquired a new position in shares of Portland General Electric (NYSE:POR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,923 shares of the utilities provider’s stock, valued at approximately $571,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric during the third quarter worth $25,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Allworth Financial LP raised its stake in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric during the second quarter worth about $33,000. Finally, Blue Trust Inc. boosted its position in shares of Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after buying an additional 451 shares during the period.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on POR. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 target price on the stock. Barclays cut their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Bank of America began coverage on Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.86.

Portland General Electric Stock Down 0.2 %

Shares of POR stock opened at $47.13 on Wednesday. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.20 and a beta of 0.59. The firm’s 50-day moving average is $47.38 and its 200-day moving average is $46.22. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Sell-side analysts predict that Portland General Electric will post 3.12 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.24%. Portland General Electric’s payout ratio is currently 59.70%.

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.