11,185 Shares in Portland General Electric Company (NYSE:POR) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has purchased 11,185 shares of Portland General Electric Company (NYSE:POR) for approximately $499,000, marking a significant investment in the utilities provider.
• Portland General Electric reported a quarterly earnings per share (EPS) of $0.66, exceeding analysts' estimates and reflecting a 6.5% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.525 per share, which translates to an annualized yield of 5.07%, with the dividend payout scheduled for October 15th.

Y Intercept Hong Kong Ltd acquired a new stake in Portland General Electric Company (NYSE:POR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,185 shares of the utilities provider's stock, valued at approximately $499,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in shares of Portland General Electric by 8.8% during the 4th quarter. Teacher Retirement System of Texas now owns 25,178 shares of the utilities provider's stock valued at $1,098,000 after acquiring an additional 2,031 shares during the last quarter. American Century Companies Inc. boosted its position in Portland General Electric by 3.7% during the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock worth $6,166,000 after acquiring an additional 5,084 shares during the period. LPL Financial LLC boosted its position in Portland General Electric by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider's stock worth $2,124,000 after acquiring an additional 12,265 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after buying an additional 572,531 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Portland General Electric by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock valued at $145,403,000 after acquiring an additional 93,903 shares in the last quarter.

Portland General Electric Price Performance

NYSE POR traded down $0.26 on Thursday, reaching $41.08. The company had a trading volume of 159,549 shares, compared to its average volume of 1,179,184. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.50 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. The firm's 50 day moving average price is $41.03 and its 200 day moving average price is $42.14. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. During the same period in the previous year, the company earned $0.69 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 5.11%. Portland General Electric's payout ratio is 77.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company decreased their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Evercore ISI lowered their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, BMO Capital Markets assumed coverage on Portland General Electric in a research note on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.40.

Insider Transactions at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company's stock.

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.