AQR Capital Management LLC Purchases 100,365 Shares of Portland General Electric (NYSE:POR)

AQR Capital Management LLC boosted its holdings in Portland General Electric (NYSE:POR - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,700 shares of the utilities provider's stock after acquiring an additional 100,365 shares during the quarter. AQR Capital Management LLC owned 0.26% of Portland General Electric worth $11,794,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Portland General Electric by 13.6% during the fourth quarter. Northern Trust Corp now owns 1,488,333 shares of the utilities provider's stock valued at $64,921,000 after purchasing an additional 177,920 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Portland General Electric by 466.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 107,509 shares of the utilities provider's stock valued at $4,690,000 after acquiring an additional 88,526 shares in the last quarter. Quarry LP increased its stake in shares of Portland General Electric by 110.4% during the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after acquiring an additional 772 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after acquiring an additional 635,987 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Portland General Electric by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 151,644 shares of the utilities provider's stock worth $6,616,000 after purchasing an additional 28,589 shares in the last quarter.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock worth $159,946 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Stock Up 0.3 %

Shares of NYSE POR traded up $0.12 during trading hours on Friday, hitting $42.45. The stock had a trading volume of 612,364 shares, compared to its average volume of 1,020,334. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market capitalization of $4.65 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.11 and a beta of 0.57. The firm's 50-day moving average price is $43.19 and its two-hundred day moving average price is $44.00. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

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 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 business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. Analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a yield of 4.95%. Portland General Electric's dividend payout ratio (DPR) is presently 73.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore ISI cut their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Barclays cut their price objective 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. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and raised their target price for the stock from $47.00 to $50.00 in a report on Monday. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average price target of $45.40.

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.