Polymer Capital Management HK LTD Invests $538,000 in Portland General Electric (NYSE:POR)

Polymer Capital Management HK LTD bought a new position in Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,329 shares of the utilities provider's stock, valued at approximately $538,000.

Several other institutional investors also recently bought and sold shares of POR. Y Intercept Hong Kong Ltd acquired a new position in Portland General Electric in the third quarter valued at $596,000. Nordea Investment Management AB increased its stake in shares of 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 valued at $43,058,000 after acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after acquiring an additional 81,701 shares during the period. Synergy Asset Management LLC boosted its position in shares of Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after acquiring an additional 82,743 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Portland General Electric by 3.7% in the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after purchasing an additional 5,084 shares during the period.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

POR has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. UBS Group reissued a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Bank of America cut 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. StockNews.com lowered Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Finally, Evercore ISI increased their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.78.

Portland General Electric Stock Up 1.3 %

NYSE:POR traded up $0.52 on Friday, reaching $42.14. The stock had a trading volume of 808,592 shares, compared to its average volume of 1,032,043. The company has a 50-day moving average of $43.34 and a 200 day moving average of $44.62. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $4.61 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) 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 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 in the previous year, the business earned $0.67 EPS. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.75%. Portland General Electric's payout ratio is currently 66.45%.

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.