XTX Topco Ltd Invests $2.57 Million in Portland General Electric Company (NYSE:POR)

Key Points

• XTX Topco Ltd has acquired a new stake in Portland General Electric by purchasing 57,715 shares valued at approximately $2,574,000.
• Brokerages have issued varying ratings on Portland General Electric, with target prices ranging from $43.00 to $50.00, and an average target price of $45.40.
• The company recently announced a quarterly dividend of $0.525, resulting in an annualized dividend yield of 5.09%.

XTX Topco Ltd purchased a new stake in Portland General Electric Company (NYSE:POR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 57,715 shares of the utilities provider's stock, valued at approximately $2,574,000. XTX Topco Ltd owned about 0.05% of Portland General Electric at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in shares of Portland General Electric in the 1st quarter worth approximately $27,000. True Wealth Design LLC purchased a new position in Portland General Electric in the 4th quarter worth $27,000. Private Trust Co. NA lifted its position in Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after acquiring an additional 244 shares during the period. Global X Japan Co. Ltd. grew its position in Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock worth $29,000 after purchasing an additional 345 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Portland General Electric during the 4th quarter valued at about $52,000.

Portland General Electric Trading Up 0.8%

Shares of POR traded up $0.31 during midday trading on Friday, reaching $41.43. The company had a trading volume of 1,859,648 shares, compared to its average volume of 1,194,902. The firm has a 50 day simple moving average of $41.01 and a 200-day simple moving average of $42.14. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.54 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%. The company had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. During the same quarter last year, the firm earned $0.69 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, September 25th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's payout ratio is 77.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on POR shares. UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and boosted their price target for the company from $47.00 to $50.00 in a report on Monday, May 5th. 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. Barclays cut their price target on Portland General Electric from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. Wells Fargo & Company dropped their price objective 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and a consensus target price of $45.40.

Insider Activity

In related news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the transaction, the director owned 13,509 shares of the company's stock, valued at approximately $541,710.90. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

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.