Marshall Wace LLP Acquires 167,715 Shares of Portland General Electric (NYSE:POR)

Marshall Wace LLP lifted its holdings in Portland General Electric (NYSE:POR - Free Report) by 133.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,393 shares of the utilities provider's stock after purchasing an additional 167,715 shares during the quarter. Marshall Wace LLP owned 0.28% of Portland General Electric worth $12,798,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its holdings in Portland General Electric by 53.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,254 shares of the utilities provider's stock valued at $678,000 after acquiring an additional 4,936 shares during the period. Franklin Resources Inc. increased its holdings in Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after purchasing an additional 81,701 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Portland General Electric by 1.6% in the third quarter. Lord Abbett & CO. LLC now owns 1,062,663 shares of the utilities provider's stock valued at $50,902,000 after buying an additional 17,021 shares during the period. Versant Capital Management Inc raised its stake in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 450 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock worth $43,058,000 after purchasing an additional 19,057 shares during the last quarter.

Portland General Electric Stock Performance

Portland General Electric stock traded down $1.47 during mid-day trading on Friday, reaching $41.51. The company's stock had a trading volume of 1,847,314 shares, compared to its average volume of 1,032,981. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm's fifty day moving average price is $43.59 and its two-hundred day moving average price is $44.34. 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 company has a market capitalization of $4.55 billion, a P/E ratio of 13.79, a PEG ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The firm had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the previous year, the company posted $1.21 earnings per share. Sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 69.77%.

Insider Activity

In related news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

POR has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered 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 research note on Tuesday, February 18th. 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. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Barclays boosted their price objective on Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.89.

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.