Portland General Electric (NYSE:POR) Shares Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP grew its position in Portland General Electric (NYSE:POR - Free Report) by 88.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,929 shares of the utilities provider's stock after purchasing an additional 7,936 shares during the period. Brevan Howard Capital Management LP's holdings in Portland General Electric were worth $738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bridgefront Capital LLC bought a new stake in Portland General Electric during the fourth quarter worth about $535,000. Captrust Financial Advisors raised its holdings in Portland General Electric by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock worth $379,000 after acquiring an additional 269 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Portland General Electric during the fourth quarter worth about $3,479,000. Bank of America Corp DE raised its holdings in Portland General Electric by 5.2% during the fourth quarter. Bank of America Corp DE now owns 1,038,224 shares of the utilities provider's stock worth $45,287,000 after acquiring an additional 51,247 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Portland General Electric by 7.9% during the fourth quarter. Benjamin Edwards Inc. now owns 17,490 shares of the utilities provider's stock worth $763,000 after acquiring an additional 1,278 shares in the last quarter.

Portland General Electric Stock Down 1.4%

Shares of NYSE:POR traded down $0.58 during trading on Wednesday, reaching $40.92. 403,859 shares of the stock traded hands, compared to its average volume of 1,021,118. The stock has a market cap of $4.48 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The stock has a 50-day moving average of $43.07 and a two-hundred day moving average of $43.83. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. 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 (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million during 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 quarter last year, the firm earned $1.21 earnings per share. As a group, sell-side analysts expect that Portland General Electric will post 3.21 earnings per share 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 given a dividend of $0.525 per share. 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. This represents a $2.10 dividend on an annualized basis and a yield of 5.13%. Portland General Electric's dividend payout ratio is presently 73.94%.

Insider Activity at Portland General Electric

In other Portland General Electric news, 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 completion of the transaction, the executive vice president now owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm'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 completion of the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,795 shares of company stock valued at $159,946 over the last 90 days. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on POR. Barclays dropped 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. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. reissued 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. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.45.

About Portland General Electric

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.