Ieq Capital LLC Invests $333,000 in Portland General Electric (NYSE:POR)

Ieq Capital LLC acquired a new position in Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,625 shares of the utilities provider's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric during the third quarter worth $596,000. Nordea Investment Management AB boosted its position in 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 valued at $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. raised its holdings in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after purchasing an additional 81,701 shares in the last quarter. Synergy Asset Management LLC lifted its position in shares of Portland General Electric by 260.6% during the fourth 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 during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Portland General Electric by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider's stock valued at $4,114,000 after buying an additional 10,643 shares in the last quarter.

Portland General Electric Stock Performance

NYSE:POR traded up $0.35 during mid-day trading on Monday, hitting $45.18. The company's stock had a trading volume of 887,054 shares, compared to its average volume of 1,163,547. The business's fifty day moving average is $42.42 and its two-hundred day moving average is $45.52. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1 year low of $39.87 and a 1 year high of $49.85.

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Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the company earned $0.67 earnings per share. Analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's dividend payout ratio is currently 66.45%.

Insider Buying and Selling

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on POR shares. Jefferies Financial Group decreased 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 report on Tuesday, January 28th. UBS Group reissued a "neutral" rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Evercore ISI increased their price target on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Bank of America decreased their price target on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Portland General Electric currently has an average 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.