ATLAS Infrastructure Partners UK Ltd. Increases Position in Portland General Electric Company $POR

Key Points

• ATLAS Infrastructure Partners UK Ltd. increased its stake in Portland General Electric by 164.5% during the 1st quarter, now owning 4.4 million shares worth approximately $196 million.
• Portland General Electric's quarterly earnings surpassed analysts' expectations, reporting $0.66 EPS and revenue of $807 million, indicating a 6.5% increase in revenue year-over-year.
• The company has announced a $0.525 quarterly dividend, resulting in an annualized yield of 5.0%, with the payout date set for October 15th.

ATLAS Infrastructure Partners UK Ltd. grew its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 164.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,400,635 shares of the utilities provider's stock after acquiring an additional 2,736,811 shares during the quarter. Portland General Electric comprises 13.8% of ATLAS Infrastructure Partners UK Ltd.'s portfolio, making the stock its 5th biggest position. ATLAS Infrastructure Partners UK Ltd. owned about 4.02% of Portland General Electric worth $196,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Fuller & Thaler Asset Management Inc. increased its stake in Portland General Electric by 22.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider's stock worth $216,950,000 after acquiring an additional 904,692 shares during the last quarter. Vanguard Group Inc. increased its stake in Portland General Electric by 4.7% during the first quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider's stock worth $556,266,000 after acquiring an additional 559,201 shares during the last quarter. Zimmer Partners LP increased its stake in Portland General Electric by 25.2% during the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after acquiring an additional 463,685 shares during the last quarter. Brown Advisory Inc. increased its stake in Portland General Electric by 54.0% during the first quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock worth $48,422,000 after acquiring an additional 380,749 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Portland General Electric by 253.6% during the first quarter. MetLife Investment Management LLC now owns 422,704 shares of the utilities provider's stock worth $18,853,000 after acquiring an additional 303,153 shares during the last quarter.

Portland General Electric Stock Up 0.2%

NYSE POR traded up $0.10 during mid-day trading on Friday, reaching $42.76. 747,197 shares of the company's stock traded hands, compared to its average volume of 989,428. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85. The company has a fifty day simple moving average of $41.69 and a 200-day simple moving average of $42.30. 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 company has a market cap of $4.68 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 3.91 and a beta of 0.63.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 return on equity of 8.07% and a net margin of 8.43%.The firm had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same quarter last year, the firm earned $0.69 EPS. Portland General Electric's quarterly revenue was up 6.5% on a year-over-year basis. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, equities research analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is currently 77.49%.

Insider Buying and Selling

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the transaction, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the transaction, the chief financial officer directly owned 27,089 shares in the company, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

POR has been the subject of several research analyst reports. BMO Capital Markets started coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays lowered their target price on 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. Finally, KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $45.40.

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.