OLD Republic International Corp Purchases Shares of 515,000 Portland General Electric (NYSE:POR)

OLD Republic International Corp acquired a new position in shares of Portland General Electric (NYSE:POR) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 515,000 shares of the utilities provider’s stock, valued at approximately $22,464,000. OLD Republic International Corp owned about 0.49% of Portland General Electric as of its most recent SEC filing.

Several other large investors have also made changes to their positions in POR. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric during the fourth quarter valued at approximately $29,000. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares in the last quarter. Versant Capital Management Inc boosted its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the period. USA Financial Formulas acquired a new stake in Portland General Electric in the 4th quarter valued at $71,000. Finally, International Assets Investment Management LLC increased its holdings in Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,970 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on POR. Evercore ISI upped their target price 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. Bank of America decreased their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. UBS Group reiterated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.44.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s 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 transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 1.3 %

NYSE POR opened at $44.36 on Monday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. 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 has a 12 month low of $39.49 and a 12 month high of $49.85. The company’s fifty day moving average price is $42.39 and its two-hundred day moving average price is $45.59.

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

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s payout ratio is currently 66.45%.

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.