Dark Forest Capital Management LP Buys 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 raised its stake in Portland General Electric Company (NYSE:POR - Free Report) by 1,211.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,257 shares of the utilities provider's stock after purchasing an additional 142,495 shares during the quarter. Portland General Electric makes up about 0.3% of Dark Forest Capital Management LP's portfolio, making the stock its 26th biggest holding. Dark Forest Capital Management LP owned 0.14% of Portland General Electric worth $6,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Wayfinding Financial LLC bought a new position in shares of Portland General Electric during the 1st quarter worth approximately $27,000. Private Trust Co. NA boosted its stake in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares during the period. Global X Japan Co. Ltd. boosted its stake in shares of Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after acquiring an additional 345 shares during the period. Costello Asset Management INC bought a new position in shares of Portland General Electric during the 1st quarter worth approximately $46,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Portland General Electric by 25.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock worth $64,000 after acquiring an additional 291 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays reduced 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. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped 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. Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, 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 price target for the company. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.40.

Insider Buying and Selling at Portland General Electric

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

Portland General Electric Price Performance

NYSE POR traded up $0.10 during midday trading on Friday, hitting $42.76. The company had a trading volume of 747,197 shares, compared to its average volume of 983,525. The company has a market capitalization of $4.68 billion, a PE ratio of 15.78, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $41.69 and a 200-day moving average price of $42.29. Portland General Electric Company has a twelve month low of $39.54 and a twelve month 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. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter last year, the company posted $0.69 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Portland General Electric has set its FY 2025 guidance at 3.130-3.330 EPS. As a group, analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

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

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.