Icon Advisers Inc. Co. Makes New $1.80 Million Investment in Portland General Electric (NYSE:POR)

Icon Advisers Inc. Co. acquired a new stake in shares of Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 41,200 shares of the utilities provider's stock, valued at approximately $1,797,000.

A number of other large investors also recently modified their holdings of the company. Mariner LLC grew its position in Portland General Electric by 20.3% during the fourth quarter. Mariner LLC now owns 19,386 shares of the utilities provider's stock valued at $846,000 after acquiring an additional 3,269 shares during the last quarter. Barclays PLC grew its holdings in shares of Portland General Electric by 50.9% during the 4th quarter. Barclays PLC now owns 314,621 shares of the utilities provider's stock valued at $13,724,000 after purchasing an additional 106,133 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Portland General Electric by 1.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 32,029 shares of the utilities provider's stock worth $1,397,000 after purchasing an additional 587 shares during the period. Townsquare Capital LLC lifted its stake in Portland General Electric by 6.9% in the fourth quarter. Townsquare Capital LLC now owns 8,135 shares of the utilities provider's stock worth $355,000 after purchasing an additional 528 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Portland General Electric by 13.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,741 shares of the utilities provider's stock valued at $556,000 after buying an additional 1,471 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently commented on POR. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research report on Tuesday, December 24th. UBS Group restated a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. 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 for the company. in a report on Tuesday, February 18th. Finally, Barclays raised their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average target price of $45.78.

Portland General Electric Stock Down 0.0 %

Shares of NYSE POR traded down $0.01 during mid-day trading on Friday, hitting $42.99. 932,282 shares of the stock traded hands, compared to its average volume of 1,027,625. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.11 and a beta of 0.49. The stock has a fifty day moving average price of $43.51 and a 200-day moving average price of $44.48. Portland General Electric has a 52 week low of $40.05 and a 52 week 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.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. During the same quarter in the previous year, the business posted $0.67 EPS. Research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.65%. The ex-dividend date was Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,795 shares of company stock valued at $159,946. 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.