41,245 Shares in Portland General Electric (NYSE:POR) Bought by Jump Financial LLC

Jump Financial LLC purchased a new position in Portland General Electric (NYSE:POR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 41,245 shares of the utilities provider's stock, valued at approximately $1,788,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Channing Capital Management LLC bought a new stake in Portland General Electric in the fourth quarter worth approximately $49,763,000. Victory Capital Management Inc. increased its position in Portland General Electric by 69.3% during the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider's stock worth $42,133,000 after buying an additional 425,923 shares during the last quarter. Truist Financial Corp raised its holdings in Portland General Electric by 103.5% during the fourth quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider's stock valued at $22,005,000 after buying an additional 258,275 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Portland General Electric by 384.1% in the fourth quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider's stock worth $13,945,000 after buying an additional 255,292 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Portland General Electric by 12.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider's stock valued at $78,728,000 after acquiring an additional 220,674 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on POR shares. UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $47.00 to $45.00 in a report on Monday, January 29th. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, April 30th. Barclays lowered their target price on shares of Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 21st. Mizuho reissued a "neutral" rating and set a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, Bank of America downgraded Portland General Electric from a "buy" rating to a "neutral" rating and lowered their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.57.

Insiders Place Their Bets

In related news, SVP Maria Angelica Espinosa sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the sale, the senior vice president now owns 16,763 shares of the company's stock, valued at $742,600.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares of the company's stock, valued at $1,297,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the completion of the sale, the senior vice president now directly owns 16,763 shares in the company, valued at approximately $742,600.90. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Portland General Electric Stock Performance

Shares of NYSE:POR traded up $0.35 on Wednesday, hitting $44.63. 649,470 shares of the company were exchanged, compared to its average volume of 985,770. The company's 50 day moving average price is $42.25 and its two-hundred day moving average price is $41.81. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 17.10 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. Portland General Electric has a one year low of $38.01 and a one year high of $50.66.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. During the same period in the previous year, the company posted $0.80 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts expect that Portland General Electric will post 3.08 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a $0.50 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, June 21st. Portland General Electric's dividend payout ratio (DPR) is 72.80%.

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.