Castellan Group Takes $3.25 Million Position in Portland General Electric Company (NYSE:POR)

Key Points

• Castellan Group has acquired a new stake of 72,933 shares in Portland General Electric valued at approximately $3.25 million, representing a 0.07% ownership in the company.
• Portland General Electric is set to pay a quarterly dividend of $0.525 on October 15th, with a current annualized yield of 5.1% and a payout ratio of 77.49%.
• The company's latest earnings report showed a slight increase in revenue, totaling $807 million, and earnings per share of $0.66, surpassing analysts' expectations.

Castellan Group purchased a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 72,933 shares of the utilities provider's stock, valued at approximately $3,253,000. Castellan Group owned 0.07% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Jefferies Financial Group Inc. purchased a new stake in shares of Portland General Electric in the first quarter valued at approximately $210,000. Menard Financial Group LLC boosted its holdings in Portland General Electric by 4.6% in the first quarter. Menard Financial Group LLC now owns 5,905 shares of the utilities provider's stock valued at $251,000 after purchasing an additional 257 shares during the period. Vestcor Inc raised its stake in Portland General Electric by 13.6% in the first quarter. Vestcor Inc now owns 7,765 shares of the utilities provider's stock valued at $346,000 after buying an additional 929 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Portland General Electric during the first quarter worth about $2,574,000. Finally, GSA Capital Partners LLP increased its position in shares of Portland General Electric by 96.4% during the first quarter. GSA Capital Partners LLP now owns 25,075 shares of the utilities provider's stock worth $1,118,000 after purchasing an additional 12,308 shares in the last quarter.

Portland General Electric Stock Performance

Portland General Electric stock traded up $0.59 during midday trading on Monday, hitting $42.04. The company's stock had a trading volume of 150,930 shares, compared to its average volume of 1,187,573. The company has a 50-day moving average price of $41.00 and a two-hundred day moving average price of $42.15. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.79 and a beta of 0.55. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. Portland General Electric Company has a 1-year low of $39.54 and a 1-year 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, beating analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 5.0%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio (DPR) is 77.49%.

Insider Transactions at Portland General Electric

In other news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the completion of the transaction, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. Wells Fargo & Company decreased their price objective on shares of 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. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Finally, UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently 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.