79,752 Shares in Portland General Electric (NYSE:POR) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 79,752 shares of the utilities provider's stock, valued at approximately $3,479,000. Balyasny Asset Management L.P. owned about 0.08% of Portland General Electric at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in shares of Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 245 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Portland General Electric by 4.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock worth $318,000 after purchasing an additional 291 shares during the last quarter. Texas Yale Capital Corp. boosted its holdings in shares of Portland General Electric by 2.6% during the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock worth $520,000 after purchasing an additional 300 shares during the last quarter. Choreo LLC boosted its holdings in shares of Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after purchasing an additional 371 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock valued at $372,000 after buying an additional 465 shares during the period.

Portland General Electric Trading Up 1.1%

NYSE POR traded up $0.48 on Friday, reaching $42.68. The stock had a trading volume of 645,618 shares, compared to its average volume of 1,024,367. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The stock has a fifty day moving average price of $42.92 and a two-hundred day moving average price of $43.71.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results 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). The firm 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 for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. As a group, sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business 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 dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.92%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is currently 73.94%.

Analyst Ratings Changes

Several analysts have recently commented on POR shares. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Barclays reduced their price target on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Jefferies Financial Group reduced 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 report on Tuesday, January 28th. Finally, KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.50.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's 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 approximately $1,320,587.20. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction on 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 in the company, valued at $1,404,430.92. This represents a 5.35% 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. 0.40% of the stock is currently owned by company insiders.

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.