Portland General Electric (NYSE:POR) Shares Purchased by Man Group plc

Man Group plc lifted its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,100 shares of the utilities provider's stock after buying an additional 13,859 shares during the period. Man Group plc owned approximately 0.21% of Portland General Electric worth $9,775,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new stake in Portland General Electric during the 4th quarter worth about $609,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Portland General Electric by 6.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,232 shares of the utilities provider's stock worth $2,584,000 after purchasing an additional 3,591 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Portland General Electric by 2,612.3% during the fourth quarter. Lazard Asset Management LLC now owns 55,195 shares of the utilities provider's stock worth $2,407,000 after purchasing an additional 53,160 shares during the period. LMR Partners LLP purchased a new stake in Portland General Electric in the fourth quarter valued at approximately $242,000. Finally, Focus Partners Wealth acquired a new position in Portland General Electric in the 4th quarter worth approximately $340,000.

Insider Buying and Selling

In other news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction that occurred 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 sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by insiders.

Portland General Electric Price Performance

POR traded down $0.21 during trading on Thursday, hitting $41.77. The company's stock had a trading volume of 687,285 shares, compared to its average volume of 1,021,498. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.11 and a beta of 0.57. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The business's fifty day simple moving average is $42.81 and its 200 day simple moving average is $43.64. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly 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). The company had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. On average, equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a yield of 5.03%. Portland General Electric's dividend payout ratio (DPR) is currently 73.94%.

Wall Street Analyst Weigh In

Several brokerages have commented on POR. Wells Fargo & Company decreased their price objective on shares of 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. BMO Capital Markets assumed coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $47.00 to $50.00 in a research note on Monday, May 5th. Barclays reduced their price target on 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. Finally, KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective on the stock. in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Portland General Electric currently has an average rating of "Hold" and an average price target of $45.60.

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.