Dark Forest Capital Management LP Invests $513,000 in Portland General Electric (NYSE:POR)

Dark Forest Capital Management LP purchased a new position in shares of Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,762 shares of the utilities provider's stock, valued at approximately $513,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Portland General Electric during the fourth quarter worth approximately $29,000. Versant Capital Management Inc boosted its stake 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 purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. grew its position 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 purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric in the fourth quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after buying an additional 1,096 shares during the last quarter.

Insider Activity at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm's 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 sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,795 shares of company stock valued at $159,946. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays reduced their target price on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. UBS Group reissued a "neutral" rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Evercore ISI dropped their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.10.

Portland General Electric Price Performance

Shares of Portland General Electric stock traded down $0.08 during trading on Friday, hitting $41.48. 181,366 shares of the company were exchanged, compared to its average volume of 1,029,910. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average price of $43.41 and a 200 day moving average price of $44.21. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. On average, equities analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal 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 given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is currently 73.94%.

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.