D. E. Shaw & Co. Inc. Has $260,000 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% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,968 shares of the utilities provider's stock after selling 26,784 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Portland General Electric were worth $260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric during the 4th quarter worth about $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after buying an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric during the fourth quarter worth about $52,000. EverSource Wealth Advisors LLC raised its position in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after buying an additional 1,096 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Portland General Electric by 110.4% during the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after buying an additional 772 shares during the period.

Portland General Electric Stock Performance

Shares of NYSE POR traded down $0.17 during trading hours on Friday, hitting $42.38. 1,207,255 shares of the company's stock were exchanged, compared to its average volume of 1,029,338. The company's 50-day moving average price is $42.57 and its 200-day moving average price is $43.45. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The stock has a market capitalization of $4.64 billion, a price-to-earnings 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 current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (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 company had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same period last year, the firm posted $1.21 EPS. The company's revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a $0.525 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 4.96%. The ex-dividend date is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on POR. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their target price for the company from $47.00 to $50.00 in a report on Monday, May 5th. Barclays lowered their price objective on shares of 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. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on 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. Finally, JPMorgan Chase & Co. decreased their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.60.

Insiders Place Their Bets

In other news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.