Portland General Electric (NYSE:POR) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in Portland General Electric (NYSE:POR - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,901 shares of the utilities provider's stock after acquiring an additional 24,485 shares during the period. BNP Paribas Financial Markets owned approximately 0.05% of Portland General Electric worth $2,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric during the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. increased its position in 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 buying an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Portland General Electric in the fourth quarter valued at about $52,000. EverSource Wealth Advisors LLC raised its stake in Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock valued at $61,000 after buying an additional 1,096 shares during the last quarter. Finally, Quarry LP boosted its holdings in Portland General Electric by 110.4% in the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock worth $64,000 after acquiring an additional 772 shares in the last quarter.

Portland General Electric Stock Performance

Shares of NYSE:POR traded down $0.43 during midday trading on Thursday, reaching $41.54. The company's stock had a trading volume of 49,328 shares, compared to its average volume of 1,019,035. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average of $42.81 and a 200 day moving average of $43.64. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm has a market capitalization of $4.55 billion, a PE ratio of 13.79, a P/E/G ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $928.00 million for 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%. Portland General Electric's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 5.06%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Insider Activity at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays cut their price objective 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. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. KeyCorp lowered shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective on the stock. in a 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 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.60.

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.