Polymer Capital Management US LLC Makes New $6.54 Million Investment in Portland General Electric (NYSE:POR)

Polymer Capital Management US LLC purchased a new stake in shares of Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 150,000 shares of the utilities provider's stock, valued at approximately $6,543,000. Portland General Electric comprises about 1.8% of Polymer Capital Management US LLC's investment portfolio, making the stock its 10th biggest position. Polymer Capital Management US LLC owned 0.14% of Portland General Electric as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in Portland General Electric by 0.8% in the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after buying an additional 245 shares during the last quarter. Choreo LLC raised its stake in shares of Portland General Electric by 1.4% during the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock valued at $1,166,000 after acquiring an additional 371 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Portland General Electric by 151.0% during the fourth 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. Trust Co. of Vermont grew its stake in shares of Portland General Electric by 5.8% in the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock worth $372,000 after purchasing an additional 465 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Portland General Electric by 2.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider's stock worth $938,000 after purchasing an additional 500 shares during the last quarter.

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Wall Street Analyst Weigh In

Several research analysts have commented on POR shares. UBS Group reaffirmed a "neutral" rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report 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 report on Tuesday, February 18th. 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research note on Thursday. Finally, Evercore ISI lifted 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 note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $45.78.

Portland General Electric Stock Up 1.3 %

NYSE:POR traded up $0.52 during trading hours on Friday, reaching $42.14. The company had a trading volume of 808,592 shares, compared to its average volume of 1,032,043. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. 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 $4.61 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.11 and a beta of 0.49. The business's 50-day simple moving average is $43.34 and its two-hundred day simple moving average is $44.62.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate 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 company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period last year, the business posted $0.67 EPS. On average, equities analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend payout ratio (DPR) is presently 66.45%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

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.