GSA Capital Partners LLP Raises Stock Position in Portland General Electric Company (NYSE:POR)

Key Points

• GSA Capital Partners LLP increased its stake in Portland General Electric Company by 96.4% in the first quarter, acquiring a total of 25,075 shares valued at approximately $1.1 million.
• Equities analysts have mixed opinions on Portland General Electric, with two buy ratings, one sell rating, and several hold ratings, resulting in an average price target of $45.40.
• Portland General Electric recently declared a quarterly dividend of $0.525 per share, representing an annual yield of 5.08% with a payout ratio of 77.49%.

GSA Capital Partners LLP boosted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 96.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,075 shares of the utilities provider's stock after buying an additional 12,308 shares during the quarter. GSA Capital Partners LLP's holdings in Portland General Electric were worth $1,118,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Portland General Electric in the fourth quarter worth $62,004,000. Fuller & Thaler Asset Management Inc. boosted its stake in Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock worth $172,720,000 after purchasing an additional 635,987 shares during the period. Zimmer Partners LP grew its holdings in Portland General Electric by 25.2% during the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares in the last quarter. Brown Advisory Inc. increased its position in shares of 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 valued at $48,422,000 after buying an additional 380,749 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Portland General Electric by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock worth $95,968,000 after buying an additional 271,540 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on POR shares. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $50.00 in a research note 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 report on Wednesday, May 14th. Barclays decreased their price target on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. Wells Fargo & Company dropped their price objective on 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. Finally, JPMorgan Chase & Co. reduced their target price on 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.40.

Portland General Electric Stock Performance

POR traded up $0.31 during mid-day trading on Friday, reaching $41.43. 1,859,648 shares of the company traded hands, compared to its average volume of 1,360,667. The company's fifty day moving average price is $41.00 and its 200-day moving average price is $42.15. The stock has a market capitalization of $4.54 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.79 and a beta of 0.55. 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 announced its earnings results on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. During the same period in the prior year, the company earned $0.69 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. On average, sell-side 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. 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 currently 77.49%.

Insiders Place Their Bets

In related news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric 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 sale, the director owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

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.