515,000 Shares in Portland General Electric (NYSE:POR) Bought by OLD Republic International Corp

OLD Republic International Corp acquired a new stake in Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 515,000 shares of the utilities provider's stock, valued at approximately $22,464,000. OLD Republic International Corp owned 0.49% of Portland General Electric at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of POR. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric in the 4th quarter worth about $29,000. Allworth Financial LP grew its stake in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock worth $30,000 after buying an additional 265 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after buying an additional 450 shares during the last quarter. USA Financial Formulas bought a new position in Portland General Electric during the 4th quarter valued at approximately $71,000. Finally, International Assets Investment Management LLC raised its stake in Portland General Electric by 4,690.5% during the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider's stock valued at $96,000 after buying an additional 1,970 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays cut their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. UBS Group reiterated a "neutral" rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, December 4th. Finally, Evercore ISI increased their target price on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $46.44.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's 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 directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Portland General Electric Trading Down 0.1 %

Shares of POR stock traded down $0.05 on Monday, reaching $44.31. 943,458 shares of the company's stock were exchanged, compared to its average volume of 1,172,712. The company's fifty day simple moving average is $42.39 and its 200 day simple moving average is $45.57. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $4.85 billion, a PE ratio of 14.72, a P/E/G ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period last year, the business posted $0.67 EPS. As a group, analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric's payout ratio is 66.45%.

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.