Portland General Electric (NYSE:POR) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC increased its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 26.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,182 shares of the utilities provider's stock after purchasing an additional 21,703 shares during the quarter. Guggenheim Capital LLC owned approximately 0.10% of Portland General Electric worth $4,501,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 245 shares during the period. Texas Yale Capital Corp. grew its stake in shares of Portland General Electric by 2.6% during the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock worth $520,000 after purchasing an additional 300 shares during the period. Choreo LLC grew its stake in shares of Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after purchasing an additional 371 shares during the period. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% during the 4th 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. Finally, Trust Co. of Vermont grew its stake in shares of Portland General Electric by 5.8% during the 4th 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 period.

Portland General Electric Stock Down 0.3 %

Shares of POR traded down $0.14 during midday trading on Thursday, reaching $43.19. The stock had a trading volume of 275,621 shares, compared to its average volume of 1,172,298. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. 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 company has a market cap of $4.73 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.11 and a beta of 0.49. The company's fifty day simple moving average is $43.59 and its two-hundred day simple moving average is $44.40.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $824.00 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.67 EPS. Equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced 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. This represents a $2.10 dividend on an annualized basis and a yield of 4.86%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's payout ratio is presently 66.45%.

Insider Activity

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 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 $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares of the company's stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock worth $159,946 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on POR shares. StockNews.com cut shares of Portland General Electric from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. 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. Evercore ISI lifted their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Finally, Jefferies Financial Group dropped 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 research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.89.

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.