Trexquant Investment LP Purchases 161,569 Shares of Portland General Electric (NYSE:POR)

Trexquant Investment LP raised its holdings in Portland General Electric (NYSE:POR - Free Report) by 2,249.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,751 shares of the utilities provider's stock after buying an additional 161,569 shares during the quarter. Trexquant Investment LP owned about 0.16% of Portland General Electric worth $7,361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the 4th quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in Portland General Electric by 151.0% during the 4th 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. grew its holdings 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Portland General Electric in the 4th quarter valued at about $71,000.

Portland General Electric Stock Down 0.3 %

NYSE POR traded down $0.12 on Tuesday, hitting $41.46. 667,360 shares of the company were exchanged, compared to its average volume of 1,021,067. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a market cap of $4.54 billion, a PE ratio of 13.81, a PEG ratio of 1.11 and a beta of 0.49. The stock has a fifty day moving average of $43.26 and a 200-day moving average of $44.82. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

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

Portland General Electric Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.82%. Portland General Electric's dividend payout ratio (DPR) is currently 66.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on POR. UBS Group reiterated a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays increased their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Portland General Electric from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. Finally, Evercore ISI raised their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three 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 $47.00.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the 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 sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

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.