8,403 Shares in Portland General Electric (NYSE:POR) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,403 shares of the utilities provider's stock, valued at approximately $367,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Nordea Investment Management AB increased its stake in Portland General Electric by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after buying an additional 81,701 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after buying an additional 82,743 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after buying an additional 692 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock valued at $6,166,000 after acquiring an additional 5,084 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on POR. StockNews.com upgraded shares of 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 price objective for the company. in a research report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the company from $47.00 to $50.00 in a research note on Monday. Finally, Barclays reduced their target price on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Stock Down 0.6 %

Shares of POR stock traded down $0.25 during mid-day trading on Thursday, reaching $42.33. 888,490 shares of the company were exchanged, compared to its average volume of 1,021,964. The company has a market capitalization of $4.64 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.11 and a beta of 0.57. The business's 50 day simple moving average is $43.24 and its 200 day simple moving average is $44.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85.

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

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.96%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is presently 73.94%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 owns 31,960 shares of the company's stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,795 shares of company stock worth $159,946. Insiders own 0.40% of the company's stock.

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.