Quantbot Technologies LP bought a new position in Portland General Electric (NYSE:POR - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,157 shares of the utilities provider's stock, valued at approximately $534,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Portland General Electric in the third quarter worth $25,000. Massmutual Trust Co. FSB ADV raised its stake in Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider's stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Allworth Financial LP raised 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 acquiring an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric during the second quarter worth $33,000. Finally, Blue Trust Inc. raised its stake in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after acquiring an additional 451 shares in the last quarter.
Insider Activity
In other news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.
Portland General Electric Trading Down 0.7 %
POR stock traded down $0.35 during midday trading on Wednesday, reaching $46.78. The stock had a trading volume of 345,813 shares, compared to its average volume of 944,074. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.20 and a beta of 0.59. The business has a fifty day simple moving average of $47.37 and a two-hundred day simple moving average of $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 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 quarter last year, the business earned $0.46 earnings per share. The company's revenue was up 15.8% compared to the same quarter last year. As a group, research analysts expect that Portland General Electric will post 3.12 EPS for the current fiscal year.
Portland General Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Tuesday, December 24th. Portland General Electric's dividend payout ratio (DPR) is presently 59.70%.
Analyst Upgrades and Downgrades
POR has been the subject of several recent analyst reports. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Bank of America started coverage on Portland General Electric in a research note on Thursday, September 12th. They set an "underperform" rating and a $47.00 price objective for the company. Barclays lowered 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 note on Tuesday, October 29th. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 target price for the company. Finally, Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $49.13.
Read Our Latest Research Report on Portland General Electric
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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