Bayforest Capital Ltd Raises Stock Position in Portland General Electric Company $POR

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Portland General Electric by 2,568.5% during the second quarter, owning a total of 10,247 shares worth approximately $416,000.
• Portland General Electric announced a quarterly dividend of $0.525 per share, providing an annualized yield of 4.8%, with a payout ratio of 77.49%.
• During its latest earnings report, Portland General Electric exceeded revenue expectations with $807 million in revenue and an EPS of $0.66, surpassing analyst estimates.

Bayforest Capital Ltd increased its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 2,568.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,247 shares of the utilities provider's stock after purchasing an additional 9,863 shares during the period. Bayforest Capital Ltd's holdings in Portland General Electric were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in POR. Wayfinding Financial LLC purchased a new position in shares of Portland General Electric during the 1st quarter valued at about $27,000. Private Trust Co. NA raised its stake in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after buying an additional 244 shares during the last quarter. Global X Japan Co. Ltd. raised its position in Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 345 shares in the last quarter. IFP Advisors Inc raised its position in Portland General Electric by 1,291.7% during the second quarter. IFP Advisors Inc now owns 668 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. Finally, S.A. Mason LLC purchased a new position in Portland General Electric during the second quarter valued at approximately $29,000.

Portland General Electric Stock Up 0.8%

POR stock opened at $43.76 on Thursday. The stock has a market capitalization of $4.79 billion, a P/E ratio of 16.15, a P/E/G ratio of 3.97 and a beta of 0.62. The firm has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $42.09. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 52 week low of $39.54 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate 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 company 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 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. Equities analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.8%. Portland General Electric's dividend payout ratio is presently 77.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on POR shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Portland General Electric in a report on Wednesday, October 8th. Barclays cut 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 report on Tuesday, July 22nd. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.40.

Insider Transactions at Portland General Electric

In other news, CEO Maria M. Pope sold 18,896 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total transaction of $803,080.00. Following the completion of the sale, the chief executive officer owned 194,135 shares of the company's stock, valued at $8,250,737.50. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Lewis sold 1,937 shares of the company's stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders sold 23,436 shares of company stock valued at $988,388 over the last 90 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.

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