Renaissance Technologies LLC Takes Position in Portland General Electric Company $POR

Key Points

• Renaissance Technologies acquired 40,400 shares of Portland General Electric worth approximately $2.13 million in the first quarter, joining other institutional investors that increased or initiated positions.
• Portland General Electric shares traded down 2.1% to $48.02, while the company’s latest quarterly results narrowly missed estimates: EPS was $0.64 versus $0.65 expected, and revenue was $814 million versus $839.75 million expected.
• The utility declared a quarterly dividend of $0.5513, equivalent to an annualized $2.21 payout and a 4.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $50.70.

Renaissance Technologies LLC bought a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,400 shares of the utilities provider's stock, valued at approximately $2,132,000.

A number of other institutional investors have also recently added to or reduced their stakes in POR. Sterling Capital Management LLC boosted its stake in Portland General Electric by 18.8% during the first quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider's stock valued at $6,728,000 after buying an additional 20,147 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Portland General Electric by 683.5% during the fourth quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider's stock worth $2,077,000 after acquiring an additional 37,758 shares during the period. LSV Asset Management raised its position in Portland General Electric by 34.1% in the fourth quarter. LSV Asset Management now owns 799,147 shares of the utilities provider's stock worth $38,351,000 after acquiring an additional 203,400 shares in the last quarter. Jennison Associates LLC bought a new stake in Portland General Electric in the fourth quarter worth about $897,000. Finally, Norges Bank bought a new stake in Portland General Electric in the fourth quarter worth about $56,497,000.

Portland General Electric Trading Down 2.1%

NYSE POR opened at $48.02 on Tuesday. The firm's 50 day moving average price is $51.09 and its two-hundred day moving average price is $51.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric Company has a twelve month low of $41.80 and a twelve month high of $54.62. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.11 and a beta of 0.52.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, July 31st. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analyst estimates of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Portland General Electric has set its FY 2026 guidance at 3.330-3.530 EPS. Equities analysts anticipate that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric's dividend payout ratio is 96.92%.

Insider Buying and Selling

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director owned 15,045 shares in the company, valued at $779,782.35. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company's stock.

Analyst Ratings Changes

POR has been the subject of several research reports. BMO Capital Markets set a $52.00 price objective on shares of Portland General Electric in a research report on Tuesday, August 4th. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Portland General Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $50.70.

Portland General Electric Profile

Portland General Electric NYSE: POR is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.

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