Man Group plc Acquires 13,859 Shares of Portland General Electric (NYSE:POR)

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

A number of other large investors have also recently bought and sold shares of the stock. Nomura Holdings Inc. bought a new stake in Portland General Electric in the fourth quarter valued at $609,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Portland General Electric by 6.5% in 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 in the last quarter. Lazard Asset Management LLC boosted its stake in Portland General Electric by 2,612.3% in 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 in the last quarter. LMR Partners LLP acquired a new position in Portland General Electric in the fourth quarter worth $242,000. Finally, Focus Partners Wealth acquired a new position in Portland General Electric in the fourth quarter worth $340,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction dated Thursday, April 17th. The stock was 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 of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company's stock.

Portland General Electric Trading Up 0.5%

Shares of POR traded up $0.23 during trading hours on Friday, hitting $41.97. 1,190,746 shares of the stock traded hands, compared to its average volume of 1,026,158. 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 has a 1-year low of $40.05 and a 1-year high of $49.85. The firm has a market capitalization of $4.60 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The business has a fifty day moving average of $42.70 and a 200-day moving average of $43.55.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. During the same period last year, the company earned $1.21 EPS. The company's revenue was down .1% compared to the same quarter last year. Analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced 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 is a positive change 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 annualized dividend and a yield of 5.00%. Portland General Electric's dividend payout ratio is presently 73.94%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on POR. Jefferies Financial Group reduced their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $47.00 to $50.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on 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. Wells Fargo & Company reduced their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, Wall Street Zen raised Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. One equities research 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, the company currently has an average rating of "Hold" and an average target price 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.