Brevan Howard Capital Management LP Boosts Stake in Portland General Electric (NYSE:POR)

Brevan Howard Capital Management LP lifted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 88.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,929 shares of the utilities provider's stock after buying an additional 7,936 shares during the period. Brevan Howard Capital Management LP's holdings in Portland General Electric were worth $738,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the fourth quarter valued at about $29,000. Cullen Frost Bankers Inc. increased its holdings in Portland General Electric by 1,538.0% in the fourth 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 position in Portland General Electric during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC increased its stake in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after buying an additional 1,096 shares during the period. Finally, Quarry LP raised its position 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 worth $64,000 after acquiring an additional 772 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of 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. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the company from $47.00 to $50.00 in a research report on Monday, May 5th. Barclays dropped their price objective on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Portland General Electric has a consensus rating of "Hold" and a consensus target price of $45.40.

Insider Buying and Selling 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 dated 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 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock valued at $159,946 over the last three months. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

NYSE:POR traded up $0.12 during trading on Friday, reaching $42.45. The company's stock had a trading volume of 612,364 shares, compared to its average volume of 1,021,542. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. Portland General Electric has a 12 month low of $40.05 and a 12 month 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. The firm has a 50 day moving average of $43.15 and a 200-day moving average of $43.92.

Portland General Electric (NYSE:POR - Get Free Report) last posted 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). The company had revenue of $928.00 million for the quarter, compared to analysts' expectations 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 business posted $1.21 EPS. Research analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared 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. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 4.95%. Portland General Electric's dividend payout ratio is presently 73.94%.

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.