Portland General Electric Company (NYSE:POR) Shares Bought by Picton Mahoney Asset Management

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 lifted its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 107,754.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,885 shares of the utilities provider's stock after acquiring an additional 25,861 shares during the quarter. Picton Mahoney Asset Management's holdings in Portland General Electric were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Portland General Electric by 3.7% in the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock worth $6,166,000 after buying an additional 5,084 shares during the period. LPL Financial LLC lifted its position in Portland General Electric by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider's stock worth $2,124,000 after acquiring an additional 12,265 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Portland General Electric by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock worth $145,403,000 after acquiring an additional 93,903 shares during the period. Blair William & Co. IL boosted its holdings in Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after acquiring an additional 692 shares during the period. Finally, Norges Bank acquired a new stake in Portland General Electric during the 4th quarter valued at $62,004,000.

Portland General Electric Stock Performance

Shares of POR stock traded up $0.31 on Friday, hitting $41.43. 1,859,648 shares of the stock traded hands, compared to its average volume of 1,194,902. The company's fifty day moving average is $41.01 and its 200 day moving average is $42.14. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85. The company has a market capitalization of $4.54 billion, a PE ratio of 15.29, a PEG ratio of 3.84 and a beta of 0.56. 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 (NYSE:POR - Get Free Report) last released its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share 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 firm had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.525 per share. 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 presently 77.49%.

Wall Street Analyst Weigh In

POR has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective 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. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. Barclays reduced their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a research report on Wednesday, May 14th. Finally, Evercore ISI reduced their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.40.

Insider Buying and Selling at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value 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 SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

About Portland General Electric

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.