Systematic Financial Management LP Buys 15,545 Shares of Portland General Electric (NYSE:POR)

Systematic Financial Management LP boosted its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 553,407 shares of the utilities provider's stock after purchasing an additional 15,545 shares during the period. Systematic Financial Management LP owned 0.52% of Portland General Electric worth $24,140,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the 4th quarter worth approximately $29,000. Cullen Frost Bankers Inc. increased its holdings in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock worth $36,000 after buying an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Portland General Electric during the fourth quarter worth $52,000. EverSource Wealth Advisors LLC raised its position in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after acquiring an additional 1,096 shares in the last quarter. Finally, Quarry LP lifted its stake in Portland General Electric by 110.4% in the fourth quarter. Quarry LP now owns 1,471 shares of the utilities provider's stock valued at $64,000 after acquiring an additional 772 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on POR shares. Jefferies Financial Group lowered their price objective 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. Wells Fargo & Company lowered their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Finally, UBS Group upgraded Portland General Electric from a "neutral" rating to a "buy" rating and increased their price target for the company from $47.00 to $50.00 in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.60.

Insider Buying and Selling at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company's stock.

Portland General Electric Stock Performance

Shares of Portland General Electric stock traded down $0.14 on Thursday, hitting $41.84. The stock had a trading volume of 210,146 shares, compared to its average volume of 1,019,655. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The business's 50 day moving average is $42.81 and its two-hundred day moving average is $43.64.

Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same period in the previous year, the firm posted $1.21 EPS. The company's revenue was down .1% compared to the same quarter last year. Analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.02%. Portland General Electric's payout ratio is 73.94%.

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.