Voloridge Investment Management LLC Has $9.98 Million Holdings in Portland General Electric (NYSE:POR)

Voloridge Investment Management LLC reduced its stake in Portland General Electric (NYSE:POR - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,713 shares of the utilities provider's stock after selling 193,217 shares during the period. Voloridge Investment Management LLC owned 0.22% of Portland General Electric worth $9,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in Portland General Electric by 0.8% in the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after purchasing an additional 245 shares during the last quarter. Captrust Financial Advisors lifted its position in Portland General Electric by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 8,693 shares of the utilities provider's stock valued at $379,000 after purchasing an additional 269 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Portland General Electric by 4.2% in the 4th quarter. OneDigital Investment Advisors LLC now owns 7,282 shares of the utilities provider's stock valued at $318,000 after purchasing an additional 291 shares during the last quarter. Texas Yale Capital Corp. lifted its position in Portland General Electric by 2.6% in the 4th quarter. Texas Yale Capital Corp. now owns 11,920 shares of the utilities provider's stock valued at $520,000 after purchasing an additional 300 shares during the last quarter. Finally, Choreo LLC lifted its position in Portland General Electric by 1.4% in the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock valued at $1,166,000 after purchasing an additional 371 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Evercore ISI lowered their target price on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. BMO Capital Markets began coverage on shares of Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 target price on the stock. Finally, Wells Fargo & Company dropped 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.60.

Portland General Electric Price Performance

Shares of NYSE POR traded down $0.31 during midday trading on Friday, reaching $42.25. The company's stock had a trading volume of 229,833 shares, compared to its average volume of 1,025,481. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a 50 day moving average price of $42.57 and a 200 day moving average price of $43.45. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $928.00 million for the quarter, compared to analysts' expectations of $977.02 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio is currently 73.94%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company's stock.

About Portland General Electric

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.