Sciencast Management LP Makes New Investment in Portland General Electric (NYSE:POR)

Sciencast Management LP purchased a new position in shares of Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,710 shares of the utilities provider's stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the fourth quarter worth approximately $29,000. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after acquiring an additional 769 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric during the 4th quarter valued at $71,000.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. KeyCorp dropped their price target on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. UBS Group reaffirmed a "neutral" rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Jefferies Financial Group decreased their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Barclays upped their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Evercore ISI lifted their price target on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $47.00.

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Portland General Electric Price Performance

Shares of NYSE POR traded up $0.85 during mid-day trading on Thursday, hitting $43.83. 1,145,027 shares of the stock traded hands, compared to its average volume of 924,383. The company has a market cap of $4.80 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $42.92 and a two-hundred day simple moving average of $45.09.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 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 business posted $0.67 earnings per share. As a group, equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, March 24th. Portland General Electric's payout ratio is currently 66.45%.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Portland General Electric Profile

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.