Redwood Grove Capital LLC increased its holdings in Portland General Electric (NYSE:POR - Free Report) by 17.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 347,021 shares of the utilities provider's stock after buying an additional 51,696 shares during the quarter. Portland General Electric comprises approximately 4.5% of Redwood Grove Capital LLC's portfolio, making the stock its 15th biggest position. Redwood Grove Capital LLC owned about 0.33% of Portland General Electric worth $16,622,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Portland General Electric by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock worth $65,234,000 after buying an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock worth $64,216,000 after buying an additional 97,922 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider's stock worth $61,219,000 after buying an additional 13,720 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Portland General Electric by 72.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider's stock worth $60,346,000 after buying an additional 530,020 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider's stock worth $46,561,000 after buying an additional 69,392 shares in the last quarter.
Portland General Electric Stock Performance
Shares of POR stock traded down $0.31 during trading hours on Thursday, reaching $46.46. 588,772 shares of the company traded hands, compared to its average volume of 942,577. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market cap of $4.90 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.20 and a beta of 0.59. The firm has a 50-day moving average price of $47.35 and a 200 day moving average price of $46.23.
Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to analysts' expectations of $882.66 million. During the same period in the previous year, the firm earned $0.46 EPS. The business's quarterly revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Portland General Electric will post 3.12 earnings per share for the current fiscal year.
Portland General Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. Portland General Electric's payout ratio is currently 59.70%.
Insider Activity
In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company's stock, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.
Wall Street Analysts Forecast Growth
POR has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They issued a "hold" rating and a $48.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday. Barclays dropped their target price on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Finally, Bank of America began coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an "underperform" rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $49.13.
Get Our Latest Analysis on POR
Portland General Electric Company Profile
(
Free Report)
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.
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