Portland General Electric (NYSE:POR) Stock Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in Portland General Electric (NYSE:POR - Free Report) by 48.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,165 shares of the utilities provider's stock after selling 50,535 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Portland General Electric worth $2,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Portland General Electric by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock valued at $95,968,000 after purchasing an additional 271,540 shares during the period. Bank of Montreal Can increased its stake in Portland General Electric by 9.2% in the 4th quarter. Bank of Montreal Can now owns 22,833 shares of the utilities provider's stock valued at $996,000 after buying an additional 1,929 shares during the period. Polymer Capital Management US LLC purchased a new position in Portland General Electric during the 4th quarter worth $6,543,000. Polymer Capital Management HK LTD purchased a new position in Portland General Electric during the 4th quarter worth $538,000. Finally, Federated Hermes Inc. lifted its stake in shares of Portland General Electric by 18.4% in the 4th quarter. Federated Hermes Inc. now owns 176,893 shares of the utilities provider's stock worth $7,716,000 after acquiring an additional 27,537 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on POR. Evercore ISI cut their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Barclays upped their price objective on Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. UBS Group reissued a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $44.00 target price (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Price Performance

Shares of POR stock traded up $0.29 during trading hours on Tuesday, hitting $41.70. The company's stock had a trading volume of 1,032,446 shares, compared to its average volume of 1,032,434. 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 business has a fifty day moving average of $43.55 and a 200-day moving average of $44.28. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million for 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%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. As a group, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.04%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio is presently 69.77%.

Insider Buying and Selling

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

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.