Edgestream Partners L.P. Invests $3.85 Million in Portland General Electric (NYSE:POR)

Edgestream Partners L.P. acquired a new stake in Portland General Electric (NYSE:POR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 80,331 shares of the utilities provider's stock, valued at approximately $3,848,000. Edgestream Partners L.P. owned about 0.08% of Portland General Electric at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 514 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric in the 3rd quarter valued at $25,000. Allworth Financial LP boosted its holdings in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock worth $30,000 after buying an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric during the second quarter valued at $33,000. Finally, Blue Trust Inc. grew its position in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock valued at $39,000 after buying an additional 451 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on POR shares. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an "underperform" rating and a $47.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They issued a "hold" rating and a $48.00 price objective for the company. Barclays decreased their target price on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.86.

Portland General Electric Price Performance

NYSE POR traded down $0.14 during mid-day trading on Friday, hitting $47.92. The stock had a trading volume of 339,308 shares, compared to its average volume of 880,162. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The firm's 50 day moving average is $47.40 and its 200 day moving average is $46.19. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.22 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period last year, the company posted $0.46 EPS. The business's revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Portland General Electric will post 3.12 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Tuesday, December 24th. Portland General Electric's dividend payout ratio (DPR) is presently 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company's stock, valued at $688,902.90. This trade represents a 14.91 % 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. Corporate insiders own 0.54% of the company's stock.

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.