PharVision Advisers LLC Makes New Investment in Portland General Electric (NYSE:POR)

PharVision Advisers LLC acquired a new position in Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,230 shares of the utilities provider's stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Portland General Electric in the 4th quarter valued at $62,004,000. Fuller & Thaler Asset Management Inc. boosted its position in Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after buying an additional 635,987 shares in the last quarter. Vanguard Group Inc. grew its position in Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after acquiring an additional 572,531 shares during the last quarter. OLD Republic International Corp acquired a new stake in shares of Portland General Electric in the fourth quarter valued at $22,464,000. Finally, Zimmer Partners LP raised its stake in shares of Portland General Electric by 25.2% in the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after acquiring an additional 463,685 shares during the last quarter.

Insider Transactions at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company's stock.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $41.95 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company's 50 day simple moving average is $42.81 and its 200 day simple moving average is $43.64.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The company's revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Portland General Electric will post 3.21 EPS 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. Stockholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 5.01%. Portland General Electric's dividend payout ratio is presently 73.94%.

Wall Street Analyst Weigh In

POR has been the topic of several research reports. BMO Capital Markets initiated coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their target price for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on shares of Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and an average target price of $45.60.

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.

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