Portland General Electric (NYSE:POR) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd decreased its holdings in Portland General Electric (NYSE:POR - Free Report) by 70.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,010 shares of the utilities provider's stock after selling 25,678 shares during the period. Point72 Hong Kong Ltd's holdings in Portland General Electric were worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Portland General Electric in the third quarter worth $25,000. Allworth Financial LP boosted its stake in Portland General Electric by 74.4% during the third 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 period. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric during the second quarter valued at $33,000. Finally, Blue Trust Inc. raised its stake in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 451 shares during the period.

Portland General Electric Stock Down 0.2 %

Shares of POR traded down $0.08 during midday trading on Tuesday, reaching $47.13. 648,992 shares of the stock were exchanged, compared to its average volume of 946,642. The company has a market capitalization of $4.97 billion, a P/E ratio of 14.07, a PEG ratio of 1.20 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company's 50 day moving average is $47.38 and its two-hundred day moving average is $46.22.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million for the quarter, compared to analysts' expectations of $882.66 million. During the same period in the prior year, the business earned $0.46 EPS. The firm's quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Portland General Electric will post 3.12 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. Portland General Electric's dividend payout ratio is currently 59.70%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on POR. Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an "underperform" rating and a $47.00 price target for the company. Barclays dropped their target price on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They set a "hold" rating and a $48.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $48.86.

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.