D. E. Shaw & Co. Inc. Reduces Position in Portland General Electric (NYSE:POR)

D. E. Shaw & Co. Inc. trimmed its stake in Portland General Electric (NYSE:POR - Free Report) by 81.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,968 shares of the utilities provider's stock after selling 26,784 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Portland General Electric were worth $260,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC increased its position in shares of Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Blair William & Co. IL increased its position in shares of Portland General Electric by 13.2% in the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after purchasing an additional 692 shares during the last quarter. American Century Companies Inc. increased 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 purchasing an additional 5,084 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Portland General Electric by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider's stock worth $14,076,000 after purchasing an additional 4,195 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Portland General Electric by 11.6% in the fourth quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider's stock worth $4,071,000 after buying an additional 9,715 shares in the last quarter.

Portland General Electric Trading Down 0.4%

POR stock traded down $0.17 on Friday, reaching $42.38. The company's stock had a trading volume of 1,207,255 shares, compared to its average volume of 1,031,944. The business has a fifty day simple moving average of $42.56 and a two-hundred day simple moving average of $43.38. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market cap of $4.64 billion, a PE ratio of 14.08, a PEG ratio of 1.11 and a beta of 0.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. During the same period in the previous year, the business earned $1.21 EPS. The business's revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be issued a $0.525 dividend. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 4.96%. Portland General Electric's dividend payout ratio is 73.94%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on POR shares. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Barclays cut their target price on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Portland General Electric presently has an average rating of "Hold" and a consensus target price of $45.60.

Insiders Place Their Bets

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

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.