Y Intercept Hong Kong Ltd Invests $596,000 in Portland General Electric (NYSE:POR)

Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric (NYSE:POR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,448 shares of the utilities provider's stock, valued at approximately $596,000.

A number of other hedge funds also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Portland General Electric in the 3rd quarter valued at approximately $25,000. Allworth Financial LP increased its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after buying an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric during the 2nd quarter worth about $33,000. Blue Trust Inc. boosted its stake in shares of Portland General Electric by 94.5% during the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after buying an additional 451 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Portland General Electric in the 2nd quarter valued at about $40,000.

Portland General Electric Trading Down 0.1 %

Shares of Portland General Electric stock traded down $0.05 on Friday, hitting $44.48. 2,083,470 shares of the company's stock traded hands, compared to its average volume of 817,514. The company has a fifty day moving average of $47.09 and a two-hundred day moving average of $46.31. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) 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 business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter in the previous year, the business earned $0.46 EPS. The company's quarterly revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Tuesday, December 24th. Portland General Electric's payout ratio is 59.70%.

Analysts Set New Price Targets

POR has been the subject of a number of recent analyst reports. KeyCorp lowered their price target on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Bank of America initiated coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an "underperform" rating and a $47.00 price target on the stock. Jefferies Financial Group began coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a "hold" rating and a $48.00 target price for the company. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Portland General Electric presently has a consensus rating of "Hold" and a consensus target price of $49.13.

Portland General Electric Company 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.