Point72 Hong Kong Ltd Boosts Stock Position in Portland General Electric (NYSE:POR)

Point72 Hong Kong Ltd raised its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 50.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,688 shares of the utilities provider's stock after purchasing an additional 12,271 shares during the period. Point72 Hong Kong Ltd's holdings in Portland General Electric were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Portland General Electric in the 4th quarter valued at about $39,112,000. Trexquant Investment LP purchased a new position in Portland General Electric during the fourth quarter valued at approximately $265,000. Assetmark Inc. raised its stake in Portland General Electric by 25.6% in the fourth quarter. Assetmark Inc. now owns 5,484 shares of the utilities provider's stock worth $238,000 after buying an additional 1,118 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Portland General Electric by 26.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 43,821 shares of the utilities provider's stock worth $1,934,000 after buying an additional 9,160 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Portland General Electric during the fourth quarter worth $25,000.

Analyst Ratings Changes

POR has been the subject of several analyst reports. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday. Barclays cut Portland General Electric from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Evercore ISI started coverage on Portland General Electric in a report on Wednesday. They issued an "outperform" rating and a $54.00 price objective on the stock. Jefferies Financial Group initiated coverage on Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 price objective for the company. Finally, KeyCorp upgraded Portland General Electric from a "sector weight" rating to an "overweight" rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.78.

Insider Activity

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company's stock, valued at approximately $688,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares of the company's stock, valued at approximately $1,045,527.50. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 in the last ninety days. Company insiders own 0.54% of the company's stock.

Portland General Electric Stock Performance

Portland General Electric stock traded up $0.20 during midday trading on Thursday, hitting $47.57. 616,266 shares of the company were exchanged, compared to its average volume of 961,484. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.45. The firm has a market capitalization of $4.90 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.36 and a beta of 0.59. The business has a fifty day simple moving average of $47.47 and a two-hundred day simple moving average of $44.48. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period in the previous year, the firm earned $0.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that Portland General Electric will post 3.08 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric's payout ratio is currently 76.63%.

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.