AQR Capital Management LLC Buys 1,743,791 Shares of Portland General Electric Company $POR

Key Points

• AQR Capital Management LLC increased its stake in Portland General Electric Company by 644.2% during the first quarter, now owning about 1.84% of the company, valued at approximately $89.8 million.
• Portland General Electric reported a quarterly EPS of $0.66, exceeding analyst expectations, and announced a quarterly dividend of $0.525 per share with a yield of 4.9%.
• The stock price of Portland General Electric was $42.66 at market open, with a market capitalization of $4.67 billion and recent target price adjustments by analysts indicating a consensus rating of "Hold".

AQR Capital Management LLC lifted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 644.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,014,491 shares of the utilities provider's stock after acquiring an additional 1,743,791 shares during the quarter. AQR Capital Management LLC owned approximately 1.84% of Portland General Electric worth $89,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in POR. Hsbc Holdings PLC raised its position in shares of Portland General Electric by 37.5% during the fourth quarter. Hsbc Holdings PLC now owns 9,318 shares of the utilities provider's stock worth $405,000 after acquiring an additional 2,542 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Portland General Electric during the fourth quarter worth about $860,000. Ameriprise Financial Inc. raised its position in shares of Portland General Electric by 3.1% during the fourth quarter. Ameriprise Financial Inc. now owns 857,337 shares of the utilities provider's stock worth $37,409,000 after acquiring an additional 25,987 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Portland General Electric by 86.2% during the fourth quarter. BNP Paribas Financial Markets now owns 52,901 shares of the utilities provider's stock valued at $2,308,000 after acquiring an additional 24,485 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position 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 valued at $763,000 after acquiring an additional 1,278 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric 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 completion of the sale, the director directly owned 13,509 shares of the company's stock, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction on Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the sale, the chief financial officer directly owned 27,089 shares of the company's stock, valued at $1,120,130.15. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.14 during mid-day trading on Wednesday, reaching $42.24. The company had a trading volume of 153,277 shares, compared to its average volume of 1,167,820. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 3.85 and a beta of 0.63. The company's 50-day moving average price is $41.74 and its 200-day moving average price is $42.27. Portland General Electric Company has a one year low of $39.54 and a one year 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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same period in the previous year, the business earned $0.69 EPS. Portland General Electric's revenue was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, equities research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is presently 77.49%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of 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. BMO Capital Markets assumed coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective on the stock. in a report on Wednesday, May 14th. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Barclays decreased their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.40.

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.