Castellan Group Acquires Shares of 72,933 Portland General Electric Company (NYSE:POR)

Castellan Group acquired a new stake in shares of Portland General Electric Company (NYSE:POR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in shares of Portland General Electric during the first quarter valued at approximately $27,000. True Wealth Design LLC purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $27,000. Private Trust Co. NA raised its stake in shares of Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares during the period. Global X Japan Co. Ltd. raised its stake in shares of 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 purchasing an additional 345 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $52,000.

Insiders Place Their Bets

In related news, 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 value of $77,673.70. Following the completion of the sale, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Portland General Electric Price Performance

POR stock traded up $0.31 during trading on Friday, hitting $41.43. The company had a trading volume of 1,859,648 shares, compared to its average volume of 1,360,667. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 3.76 and a beta of 0.56. The business has a 50 day moving average of $41.00 and a 200 day moving average of $42.14. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 annualized dividend and a yield of 5.1%. Portland General Electric's dividend payout ratio is presently 77.49%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on POR shares. JPMorgan Chase & Co. decreased their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and raised their price target for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their price target on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Evercore ISI decreased their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. 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.com, the company has a consensus rating of "Hold" and an average price target of $45.40.

About Portland General Electric

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.