Two Sigma Investments LP Has $16.48 Million Stock Holdings in Portland General Electric (NYSE:POR)

Two Sigma Investments LP raised its position in Portland General Electric (NYSE:POR - Free Report) by 40.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 377,717 shares of the utilities provider's stock after buying an additional 108,711 shares during the quarter. Two Sigma Investments LP owned about 0.36% of Portland General Electric worth $16,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the 4th quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Portland General Electric during the 4th quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter.

Portland General Electric Trading Down 1.7%

Shares of NYSE POR traded down $0.71 during midday trading on Wednesday, reaching $42.19. The stock had a trading volume of 120,705 shares, compared to its average volume of 1,022,600. The firm has a market cap of $4.62 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 has a twelve month low of $40.05 and a twelve month high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company's 50 day moving average price is $42.62 and its 200 day moving average price is $43.49.

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 analysts' consensus estimates of $0.93 by ($0.02). The firm had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. As a group, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.98%. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's payout ratio is 73.94%.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the business'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. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on POR shares. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. BMO Capital Markets initiated coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target on the stock. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 target price on the stock. in a report on Wednesday, May 14th. Barclays reduced their target price on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.60.

Portland General Electric 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.