Portland General Electric Company $POR Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of Portland General Electric Company (NYSE:POR) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,889 shares of the utilities provider’s stock after buying an additional 4,583 shares during the quarter. AlphaQuest LLC’s holdings in Portland General Electric were worth $1,702,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Portland General Electric during the 1st quarter valued at about $27,000. Private Trust Co. NA increased its holdings in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc increased its holdings in Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. S.A. Mason LLC bought a new stake in shares of Portland General Electric in the 2nd quarter valued at approximately $29,000. Finally, Costello Asset Management INC bought a new stake in shares of Portland General Electric in the 1st quarter valued at approximately $46,000.

Analysts Set New Price Targets

POR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a report on Wednesday, October 8th. BTIG Research upgraded Portland General Electric to a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price target on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday. Barclays boosted their price target on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.73.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the sale, the chief financial officer directly owned 27,089 shares of the company’s stock, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria M. Pope sold 18,896 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Portland General Electric Trading Up 0.8%

Shares of POR stock opened at $46.17 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $49.85. The stock has a fifty day moving average of $43.20 and a two-hundred day moving average of $42.17. The firm has a market capitalization of $5.06 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 4.19 and a beta of 0.62.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, research analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.5%. Portland General Electric’s payout ratio is 77.49%.

Portland General Electric 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.