Dark Forest Capital Management LP Purchases 142,495 Shares of Portland General Electric Company $POR

Key Points

• Dark Forest Capital Management LP significantly increased its position in Portland General Electric by 1,211.5%, acquiring 142,495 additional shares in Q1, now totaling 154,257 shares.
• Portland General Electric recently reported a $0.66 EPS for the last quarter, slightly above analysts' expectations, and it projected a FY 2025 EPS range of $3.130-$3.330.
• The company declared a quarterly dividend of $0.525, which translates to an annualized yield of 4.9%, with the next payment scheduled for October 15th.

Dark Forest Capital Management LP lifted its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 1,211.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,257 shares of the utilities provider's stock after buying an additional 142,495 shares during the period. Portland General Electric comprises 0.3% of Dark Forest Capital Management LP's holdings, making the stock its 26th largest position. Dark Forest Capital Management LP owned approximately 0.14% of Portland General Electric worth $6,880,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC increased its position in Portland General Electric by 70.2% during the first quarter. EP Wealth Advisors LLC now owns 11,772 shares of the utilities provider's stock worth $525,000 after buying an additional 4,856 shares during the last quarter. Royal Bank of Canada increased its position in Portland General Electric by 7.4% during the first quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider's stock worth $7,222,000 after buying an additional 11,141 shares during the last quarter. Vident Advisory LLC acquired a new position in Portland General Electric during the first quarter worth approximately $231,000. Evergreen Capital Management LLC acquired a new position in Portland General Electric during the first quarter worth approximately $280,000. Finally, State of Wyoming increased its position in Portland General Electric by 154.1% during the first quarter. State of Wyoming now owns 7,651 shares of the utilities provider's stock worth $341,000 after buying an additional 4,640 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on POR shares. KeyCorp downgraded Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. BMO Capital Markets started coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price objective for the company. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Barclays cut their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $45.40.

Portland General Electric Price Performance

Shares of POR stock traded up $0.10 during trading on Friday, hitting $42.76. The company had a trading volume of 747,197 shares, compared to its average volume of 989,428. 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 firm has a market capitalization of $4.68 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 3.90 and a beta of 0.63. The stock's 50-day moving average price is $41.69 and its 200 day moving average price is $42.31. Portland General Electric Company has a one year low of $39.54 and a one year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 analysts' expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. Equities analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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

Insider Activity at Portland General Electric

In related news, Director Michael A. Lewis sold 1,937 shares of the business'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 completion of the sale, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joseph R. Trpik, Jr. sold 2,603 shares of Portland General Electric stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $41.35, for a total transaction of $107,634.05. Following the completion of the transaction, the chief financial officer directly owned 27,089 shares in the company, valued at $1,120,130.15. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

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.