Aquatic Capital Management LLC Sells 19,924 Shares of Portland General Electric (NYSE:POR)

Aquatic Capital Management LLC decreased its position in Portland General Electric (NYSE:POR - Free Report) by 94.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,276 shares of the utilities provider's stock after selling 19,924 shares during the period. Aquatic Capital Management LLC's holdings in Portland General Electric were worth $56,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric in the fourth quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric during the 4th quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Portland General Electric by 352.4% during the 4th 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 period.

Analyst Ratings Changes

POR has been the subject of several research reports. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price target for the company from $47.00 to $50.00 in a research note on Monday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Finally, Evercore ISI dropped their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $45.40.

Portland General Electric Trading Up 0.5 %

Shares of Portland General Electric stock opened at $42.61 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The business has a fifty day simple moving average of $43.29 and a two-hundred day simple moving average of $44.05. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results 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 company had revenue of $928.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. Research analysts forecast that Portland General Electric will post 3.21 EPS 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. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.93%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares in the company, 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 sold 3,795 shares of company stock worth $159,946 in the last ninety days. 0.40% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.