Portland General Electric (NYSE:POR) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in Portland General Electric (NYSE:POR - Free Report) by 448.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,353 shares of the utilities provider's stock after acquiring an additional 53,430 shares during the quarter. Martingale Asset Management L P owned 0.06% of Portland General Electric worth $2,851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in POR. Walleye Capital LLC bought a new position in Portland General Electric in the third quarter valued at about $211,000. HighTower Advisors LLC lifted its position 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 worth $4,114,000 after purchasing an additional 10,643 shares during the period. Quantinno Capital Management LP lifted its holdings in Portland General Electric by 43.2% during the third quarter. Quantinno Capital Management LP now owns 9,969 shares of the utilities provider's stock worth $478,000 after buying an additional 3,009 shares during the period. Stifel Financial Corp raised its stake in Portland General Electric by 13.7% in the 3rd quarter. Stifel Financial Corp now owns 51,962 shares of the utilities provider's stock worth $2,489,000 after acquiring an additional 6,279 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock worth $199,509,000 after purchasing an additional 66,438 shares during the period.

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Insider Buying and Selling

In related 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 sale, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on POR. LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. restated a "neutral" rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Finally, Evercore ISI boosted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.78.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded up $0.28 during trading on Wednesday, reaching $43.48. The company's stock had a trading volume of 132,379 shares, compared to its average volume of 1,025,276. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The business's fifty day moving average price is $43.41 and its 200-day moving average price is $44.55. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.67 EPS. As a group, equities research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.60%. Portland General Electric's dividend payout ratio is presently 66.45%.

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.