Picton Mahoney Asset Management Increases Stock Position in Portland General Electric Company (NYSE:POR)

Key Points

• Picton Mahoney Asset Management significantly increased its holdings in Portland General Electric by 107,754.2% during the 1st quarter, acquiring an additional 25,861 shares, bringing their total to 25,885 shares.
• Portland General Electric reported a quarterly earnings per share (EPS) of $0.66, surpassing analysts' expectations, with a revenue of $807 million, marking a 6.5% increase from the previous year.
• The company declared a quarterly dividend of $0.525 per share, resulting in an annualized yield of 5.08%, with a current payout ratio of 77.49%.

Picton Mahoney Asset Management increased its holdings in Portland General Electric Company (NYSE:POR - Free Report) by 107,754.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,885 shares of the utilities provider's stock after purchasing an additional 25,861 shares during the quarter. Picton Mahoney Asset Management's holdings in Portland General Electric were worth $1,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of 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 valued at $172,720,000 after buying an additional 635,987 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Portland General Electric by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock valued at $145,403,000 after acquiring an additional 93,903 shares during the last quarter. Geode Capital Management LLC increased its position in Portland General Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock valued at $108,710,000 after purchasing an additional 47,172 shares during the period. Zimmer Partners LP raised 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 worth $100,598,000 after purchasing an additional 463,685 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Portland General Electric by 14.1% during the 4th quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock worth $95,968,000 after purchasing an additional 271,540 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on POR shares. Evercore ISI reduced their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and upped their price target for the company from $47.00 to $50.00 in a research report on Monday, May 5th. BMO Capital Markets began coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price objective for the company. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Barclays decreased their target price on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $45.40.

Portland General Electric Stock Up 0.8%

Portland General Electric stock traded up $0.31 during mid-day trading on Friday, reaching $41.43. The stock had a trading volume of 1,859,648 shares, compared to its average volume of 1,360,667. The firm has a market capitalization of $4.54 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 3.79 and a beta of 0.55. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85. The stock's 50-day simple moving average is $41.00 and its 200-day simple moving average is $42.15. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. Portland General Electric's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. On average, sell-side analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, September 25th. Portland General Electric's dividend payout ratio is currently 77.49%.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction dated 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 in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Portland General Electric 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.