Natixis Takes $306,000 Position in Portland General Electric (NYSE:POR)

Natixis acquired a new stake in Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,019 shares of the utilities provider's stock, valued at approximately $306,000.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric during the fourth quarter valued at $29,000. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after acquiring an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Portland General Electric by 1,538.0% in the fourth 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. Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric in the fourth quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC lifted its stake 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 worth $61,000 after buying an additional 1,096 shares during the last quarter.

Analysts Set New Price Targets

POR has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday. UBS Group reissued 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 upped their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Finally, Jefferies Financial Group decreased their price target 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Trading Down 0.5 %

Portland General Electric stock traded down $0.22 during mid-day trading on Wednesday, hitting $41.49. 214,257 shares of the company's stock were exchanged, compared to its average volume of 1,029,467. The firm has a market capitalization of $4.54 billion, a P/E ratio of 13.76, a PEG ratio of 1.11 and a beta of 0.49. 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 company's 50 day simple moving average is $43.51 and its 200-day simple moving average is $44.27.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. On average, equities analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is 69.77%.

Insiders Place Their Bets

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,795 shares of company stock worth $159,946. Corporate insiders own 0.40% of the company's stock.

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.