Natixis Makes New Investment in Portland General Electric (NYSE:POR)

Natixis purchased a new stake in shares of Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,019 shares of the utilities provider's stock, valued at approximately $306,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after purchasing an additional 19,057 shares during the period. Franklin Resources Inc. increased its position in shares of Portland General Electric by 114.1% during the third 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 raised its stake in shares of Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Portland General Electric by 13.2% in the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock valued at $258,000 after purchasing an additional 692 shares during the period. Finally, American Century Companies Inc. grew its stake 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 worth $6,166,000 after purchasing an additional 5,084 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reduced 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. UBS Group reiterated a "neutral" rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $44.00 target price (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Barclays increased their price objective on Portland General Electric from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $45.40.

Insider Buying and Selling at Portland General Electric

In related 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 in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock valued at $159,946 over the last ninety days. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Stock Performance

NYSE POR traded up $0.05 during mid-day trading on Monday, reaching $41.41. 1,381,330 shares of the stock were exchanged, compared to its average volume of 1,032,434. The company has a market capitalization of $4.53 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The business's 50 day moving average is $43.59 and its 200-day moving average is $44.32. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric's revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $1.21 earnings per share. On average, equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 5.07%. Portland General Electric's dividend payout ratio is currently 69.77%.

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.