Empowered Funds LLC Invests $1.52 Million in Portland General Electric (NYSE:POR)

Empowered Funds LLC acquired a new position in Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,916 shares of the utilities provider's stock, valued at approximately $1,523,000.

A number of other institutional investors also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Portland General Electric during the 3rd quarter worth approximately $25,000. Allworth Financial LP boosted its stake in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 265 shares during the period. Versant Capital Management Inc grew its holdings in shares of Portland General Electric by 151.0% in 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 last quarter. USA Financial Formulas purchased a new position in shares of Portland General Electric in the fourth quarter worth $71,000. Finally, International Assets Investment Management LLC raised its holdings in Portland General Electric by 4,690.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider's stock valued at $96,000 after buying an additional 1,970 shares during the last quarter.

Portland General Electric Stock Up 1.3 %

Shares of POR stock traded up $0.55 during midday trading on Wednesday, reaching $43.36. 756,109 shares of the stock were exchanged, compared to its average volume of 1,159,783. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85. The firm has a market cap of $4.57 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61. The company's 50 day moving average is $42.50 and its two-hundred day moving average is $45.68. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share 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 analysts' expectations 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 prior year, the firm earned $0.67 earnings per share. On average, equities research analysts predict that Portland General Electric will post 3.2 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. Portland General Electric's payout ratio is 66.45%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's 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 in the company, valued at approximately $1,320,587.20. This represents 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 this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. LADENBURG THALM/SH SH downgraded 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. KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $46.44.

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.