Portland General Electric Company $POR Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Portland General Electric by 151.9%, now holding 19,204 shares valued at approximately $857,000.
• Portland General Electric recently declared a quarterly dividend of $0.525, yielding 5.0%, which will be paid on October 15th.
• Analysts have mixed views on the stock, with Zacks upgrading its rating from "strong sell" to "hold" and a consensus target price of $45.40.

Ieq Capital LLC lifted its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 151.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,204 shares of the utilities provider's stock after buying an additional 11,579 shares during the period. Ieq Capital LLC's holdings in Portland General Electric were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of POR. Hsbc Holdings PLC lifted its stake in shares of Portland General Electric by 37.5% in the fourth quarter. Hsbc Holdings PLC now owns 9,318 shares of the utilities provider's stock worth $405,000 after buying an additional 2,542 shares in the last quarter. Northern Trust Corp increased its position in Portland General Electric by 13.6% during the fourth quarter. Northern Trust Corp now owns 1,488,333 shares of the utilities provider's stock worth $64,921,000 after purchasing an additional 177,920 shares during the last quarter. AQR Capital Management LLC increased its position in Portland General Electric by 58.9% during the fourth quarter. AQR Capital Management LLC now owns 270,700 shares of the utilities provider's stock worth $11,794,000 after purchasing an additional 100,365 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Portland General Electric during the fourth quarter worth about $860,000. Finally, Comerica Bank increased its position in Portland General Electric by 7.6% during the fourth quarter. Comerica Bank now owns 119,266 shares of the utilities provider's stock worth $5,202,000 after purchasing an additional 8,389 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective 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. 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 research report on Tuesday, July 22nd. KeyCorp cut 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. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, BMO Capital Markets started 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. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.40.

Portland General Electric Stock Up 0.2%

Shares of NYSE POR traded up $0.10 during midday trading on Friday, hitting $42.76. The company's stock had a trading volume of 747,197 shares, compared to its average volume of 989,428. The business's fifty day simple moving average is $41.69 and its two-hundred day simple moving average is $42.30. 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. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63.

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 the consensus estimate 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 analyst estimates of $797.97 million. During the same quarter last year, the firm posted $0.69 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. On average, equities analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be paid a $0.525 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 4.9%. Portland General Electric's payout ratio is currently 77.49%.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the transaction, the chief financial officer owned 27,089 shares in the company, valued at $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the director owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by 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.