Bridgefront Capital LLC Invests $535,000 in Portland General Electric (NYSE:POR)

Bridgefront Capital LLC bought a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,261 shares of the utilities provider's stock, valued at approximately $535,000.

Several other large investors also recently modified their holdings of POR. Franklin Resources Inc. grew its position in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after buying an additional 81,701 shares during the last quarter. Versant Capital Management Inc lifted its stake in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock worth $33,000 after acquiring an additional 450 shares during the period. Nordea Investment Management AB boosted its holdings in Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after acquiring an additional 19,057 shares in the last quarter. Oliver Luxxe Assets LLC boosted its holdings in Portland General Electric by 4.9% in the fourth quarter. Oliver Luxxe Assets LLC now owns 101,799 shares of the utilities provider's stock valued at $4,440,000 after acquiring an additional 4,780 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Portland General Electric during the 4th quarter valued at $32,553,000.

Portland General Electric Stock Up 0.3 %

Portland General Electric stock traded up $0.12 during mid-day trading on Friday, reaching $42.45. The stock had a trading volume of 612,364 shares, compared to its average volume of 1,020,174. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.11 and a beta of 0.57. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a 50-day moving average price of $43.19 and a two-hundred day moving average price of $44.00.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same period last year, the business earned $1.21 EPS. Portland General Electric's revenue was down .1% on a year-over-year basis. On average, analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm 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 $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 4.95%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is currently 73.94%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research reports. Barclays cut their target price on shares of 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. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Wells Fargo & Company lowered their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the stock from $47.00 to $50.00 in a research note on Monday. Finally, Jefferies Financial Group lowered their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.40.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the 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 transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. 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 ninety days. 0.40% of the stock is currently owned by corporate 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.