Bryce Point Capital LLC Makes New $1.68 Million Investment in Portland General Electric (NYSE:POR)

Bryce Point Capital LLC acquired a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 38,458 shares of the utilities provider's stock, valued at approximately $1,678,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in POR. Y Intercept Hong Kong Ltd bought a new position in Portland General Electric during the 3rd quarter worth approximately $596,000. Nordea Investment Management AB boosted its position 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 worth $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after buying an additional 81,701 shares during the period. Synergy Asset Management LLC increased its position in shares of Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after buying an additional 82,743 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Portland General Electric by 3.7% during the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock worth $6,166,000 after buying an additional 5,084 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently weighed in on POR shares. 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. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group reissued a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $47.00.

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Insider Activity

In related 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 transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Stock Performance

POR stock traded down $1.47 during midday trading on Monday, reaching $41.23. 567,086 shares of the company were exchanged, compared to its average volume of 1,185,589. The business has a 50-day moving average price of $43.28 and a two-hundred day moving average price of $44.86. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period last year, the business posted $0.67 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend 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.