GAMMA Investing LLC Purchases 102,994 Shares of Portland General Electric (NYSE:POR)

GAMMA Investing LLC raised its position in Portland General Electric (NYSE:POR - Free Report) by 2,545.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,040 shares of the utilities provider's stock after purchasing an additional 102,994 shares during the period. GAMMA Investing LLC owned 0.10% of Portland General Electric worth $4,774,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Menard Financial Group LLC increased its stake in Portland General Electric by 32.3% in the 4th quarter. Menard Financial Group LLC now owns 5,648 shares of the utilities provider's stock worth $246,000 after acquiring an additional 1,378 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Portland General Electric in the fourth quarter valued at approximately $6,451,000. Mackenzie Financial Corp lifted its position in Portland General Electric by 145.1% during the fourth quarter. Mackenzie Financial Corp now owns 16,856 shares of the utilities provider's stock valued at $735,000 after purchasing an additional 9,980 shares during the last quarter. Vise Technologies Inc. grew its stake in Portland General Electric by 10.7% in the 4th quarter. Vise Technologies Inc. now owns 9,541 shares of the utilities provider's stock worth $416,000 after buying an additional 924 shares in the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of Portland General Electric in the 4th quarter worth $272,000.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

POR has been the subject of several research reports. Wells Fargo & Company cut their target price 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. BMO Capital Markets initiated coverage on Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price objective on the stock. KeyCorp downgraded 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 report on Wednesday, May 14th. Evercore ISI reduced their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.60.

Portland General Electric Trading Down 0.3%

Shares of POR stock traded down $0.14 during mid-day trading on Thursday, reaching $40.94. The stock had a trading volume of 89,800 shares, compared to its average volume of 1,027,607. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock's 50-day moving average price is $42.15 and its two-hundred day moving average price is $43.12. The firm has a market capitalization of $4.48 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 EPS. Equities analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.13%. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is 73.94%.

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.