Martingale Asset Management L P Makes New Investment in Portland General Electric (NYSE:POR)

Martingale Asset Management L P bought a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,923 shares of the utilities provider's stock, valued at approximately $571,000.

A number of other large investors have also modified their holdings of POR. Massmutual Trust Co. FSB ADV boosted its position in shares of Portland General Electric by 767.2% during the 2nd 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 last quarter. V Square Quantitative Management LLC acquired a new position in Portland General Electric in the third quarter valued at about $25,000. Allworth Financial LP lifted its position in Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after buying an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the second quarter valued at about $33,000. Finally, Blue Trust Inc. lifted its position in shares of Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after purchasing an additional 451 shares in the last quarter.

Portland General Electric Stock Down 0.8 %

Shares of NYSE:POR traded down $0.36 during trading on Wednesday, reaching $46.77. 345,810 shares of the company traded hands, compared to its average volume of 944,074. The firm has a fifty day simple moving average of $47.38 and a 200 day simple moving average of $46.22. The firm has a market cap of $4.93 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Analysts anticipate that Portland General Electric will post 3.12 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.28%. Portland General Electric's dividend payout ratio is 59.70%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent research reports. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Barclays dropped their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They set an "underperform" rating and a $47.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and a consensus target price of $49.13.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value 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 approximately $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% 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.