Legato Capital Management LLC bought a new stake in Portland General Electric Company (NYSE:POR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,900 shares of the utilities provider's stock, valued at approximately $2,251,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sigma Planning Corp grew its stake in Portland General Electric by 3.9% in the fourth quarter. Sigma Planning Corp now owns 5,663 shares of the utilities provider's stock valued at $272,000 after purchasing an additional 210 shares in the last quarter. Private Trust Co. NA grew its stake in Portland General Electric by 76.4% in the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 239 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Portland General Electric by 3.1% in the third quarter. OneDigital Investment Advisors LLC now owns 8,309 shares of the utilities provider's stock valued at $366,000 after purchasing an additional 248 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in Portland General Electric by 0.8% in the third quarter. Johnson Investment Counsel Inc. now owns 38,563 shares of the utilities provider's stock valued at $1,697,000 after purchasing an additional 302 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Portland General Electric by 35.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 323 shares in the last quarter.
Insiders Place Their Bets
In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the transaction, the chief financial officer owned 31,897 shares of the company's stock, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Benjamin Felton sold 4,969 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $53.56, for a total value of $266,139.64. Following the transaction, the executive vice president directly owned 41,081 shares of the company's stock, valued at $2,200,298.36. This represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,219 shares of company stock worth $767,707 over the last quarter. 0.52% of the stock is currently owned by company insiders.
Portland General Electric Stock Performance
POR opened at $49.81 on Friday. The company has a market cap of $5.76 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.54. The stock has a 50-day moving average of $51.31 and a 200-day moving average of $50.47. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $54.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09.
Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). The company had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business's revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. As a group, equities research analysts forecast that Portland General Electric Company will post 3.39 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 Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be paid a dividend of $0.5513 per share. This is a boost from Portland General Electric's previous quarterly dividend of $0.53. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. Portland General Electric's dividend payout ratio is currently 93.75%.
Analyst Ratings Changes
A number of research analysts have commented on the company. BTIG Research restated a "buy" rating and issued a $58.00 target price on shares of Portland General Electric in a research note on Friday, January 30th. UBS Group boosted their target price on Portland General Electric from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Portland General Electric in a research note on Friday, May 15th. Finally, Barclays upped their price target on Portland General Electric from $47.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $51.00.
Read Our Latest Analysis on POR
About Portland General Electric
(
Free Report)
Portland General Electric NYSE: POR is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.
As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.
Featured Stories
Want to see what other hedge funds are holding POR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Portland General Electric Company (NYSE:POR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Portland General Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Portland General Electric wasn't on the list.
While Portland General Electric currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
