Squarepoint Ops LLC Sells 52,654 Shares of Portland General Electric (NYSE:POR)

Squarepoint Ops LLC reduced its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,181 shares of the utilities provider's stock after selling 52,654 shares during the quarter. Squarepoint Ops LLC owned 0.20% of Portland General Electric worth $9,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Portland General Electric during the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. increased its position 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 valued at $36,000 after acquiring an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 1,096 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on POR. Wells Fargo & Company dropped their target price on shares of 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. Barclays cut 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 report on Wednesday, April 30th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 5th. LADENBURG THALM/SH SH cut shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.60.

Insider Transactions at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the company'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 transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

Portland General Electric Price Performance

POR stock traded up $0.25 during mid-day trading on Thursday, hitting $42.24. The company had a trading volume of 119,792 shares, compared to its average volume of 1,126,581. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $42.59 and a 200 day moving average price of $43.48.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share 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 the consensus estimate of $977.02 million. During the same quarter last year, the firm earned $1.21 earnings per share. The business's quarterly revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.97%. Portland General Electric's payout ratio is 73.94%.

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.