XTX Topco Ltd Buys Shares of 57,715 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 bought a new position in shares of Portland General Electric Company (NYSE:POR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 57,715 shares of the utilities provider's stock, valued at approximately $2,574,000. XTX Topco Ltd owned approximately 0.05% of Portland General Electric as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth $27,000. Wayfinding Financial LLC acquired a new position in Portland General Electric in the 1st quarter worth about $27,000. Private Trust Co. NA increased its holdings in Portland General Electric by 62.6% in the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in Portland General Electric by 113.1% in 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric in the 4th quarter worth about $52,000.

Portland General Electric Stock Up 0.8%

Portland General Electric stock traded up $0.31 during midday trading on Friday, reaching $41.43. The stock had a trading volume of 1,859,648 shares, compared to its average volume of 1,360,667. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The company has a market capitalization of $4.54 billion, a P/E ratio of 15.29, a PEG ratio of 3.76 and a beta of 0.56. The company has a fifty day moving average price of $41.00 and a two-hundred day moving average price of $42.14. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.

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

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on POR shares. Wells Fargo & Company lowered their target price on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Evercore ISI lowered their target price on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. KeyCorp lowered Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, BMO Capital Markets started coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $45.40.

Insider Activity at Portland General Electric

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

About Portland General Electric

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.