Martingale Asset Management L P Grows Stock Position in Portland General Electric Company $POR

Key Points

• Martingale Asset Management L P increased its stake in Portland General Electric Company by 15.5%, owning approximately 0.07% of the company worth $3,367,000 as of the latest filing.
• The company reported $0.66 earnings per share for the last quarter, exceeding analysts’ expectations, and anticipates posting around 3.21 EPS for the current year.
• Portland General Electric declared a quarterly dividend of $0.525, which equates to an annualized yield of 5.0% and a payout ratio of 77.49%.

Martingale Asset Management L P boosted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 15.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,489 shares of the utilities provider's stock after acquiring an additional 10,136 shares during the quarter. Martingale Asset Management L P owned 0.07% of Portland General Electric worth $3,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Portland General Electric in the 1st quarter worth $27,000. True Wealth Design LLC purchased a new position in shares of Portland General Electric in the fourth quarter valued at about $27,000. Private Trust Co. NA lifted its position in shares of Portland General Electric by 62.6% in the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Portland General Electric in the first quarter worth about $46,000.

Portland General Electric Stock Performance

Shares of NYSE POR traded up $0.55 during mid-day trading on Wednesday, hitting $42.88. The stock had a trading volume of 242,111 shares, compared to its average volume of 1,173,139. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.84 and a current ratio of 0.97. The company has a 50 day moving average of $41.31 and a two-hundred day moving average of $42.26. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $49.85. The firm has a market cap of $4.70 billion, a PE ratio of 15.82, a PEG ratio of 3.88 and a beta of 0.55.

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 (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $797.97 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The firm's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Research analysts predict that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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

Insider Activity

In other news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the sale, the director directly owned 13,509 shares of the company's stock, valued at $541,710.90. This represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $41.35, for a total transaction of $107,634.05. Following the sale, the chief financial officer directly owned 27,089 shares in the company, valued at approximately $1,120,130.15. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on POR. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. Barclays cut their target price on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lowered their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. BMO Capital Markets started coverage on Portland General Electric in a report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price for the company. Finally, KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price for the company. in a report on Wednesday, May 14th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.40.

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.