Icon Advisers Inc. Co. Purchases New Holdings in Portland General Electric (NYSE:POR)

Icon Advisers Inc. Co. bought a new stake in shares of Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 41,200 shares of the utilities provider's stock, valued at approximately $1,797,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after acquiring an additional 572,531 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Portland General Electric by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock valued at $145,403,000 after purchasing an additional 93,903 shares during the period. Geode Capital Management LLC increased its holdings in shares of Portland General Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock worth $108,710,000 after acquiring an additional 47,172 shares during the period. Invesco Ltd. boosted its position in shares of Portland General Electric by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock worth $95,968,000 after buying an additional 271,540 shares during the period. Finally, Channing Capital Management LLC grew its stake in shares of Portland General Electric by 7.2% in the fourth quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider's stock worth $79,906,000 after purchasing an additional 123,223 shares in the last quarter.

Portland General Electric Stock Performance

POR traded down $0.01 on Friday, hitting $42.99. 932,282 shares of the stock traded hands, compared to its average volume of 1,027,499. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The firm has a market capitalization of $4.71 billion, a PE ratio of 14.28, a P/E/G ratio of 1.11 and a beta of 0.49. The business has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $44.51. 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 posted its quarterly earnings results 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 analyst estimates 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 quarter in the prior year, the business posted $0.67 earnings per share. On average, research analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.65%. The ex-dividend date was Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is presently 66.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group decreased their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Barclays increased their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $45.78.

Insider Buying and Selling at Portland General Electric

In other news, 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 completion of the sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction that occurred on 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 owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Insiders own 0.40% of the company's stock.

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.