11,314 Shares in Portland General Electric (NYSE:POR) Bought by Aigen Investment Management LP

Aigen Investment Management LP acquired a new position in shares of Portland General Electric (NYSE:POR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,314 shares of the utilities provider’s stock, valued at approximately $494,000.

Several other large investors have also recently bought and sold shares of POR. Zimmer Partners LP boosted its stake in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric during the fourth quarter valued at about $32,553,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after purchasing an additional 530,020 shares in the last quarter. OLD Republic International Corp acquired a new stake in shares of Portland General Electric during the fourth quarter valued at about $22,464,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Portland General Electric by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock valued at $74,863,000 after purchasing an additional 138,831 shares in the last quarter.

Analyst Ratings Changes

POR has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. KeyCorp cut their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group cut their price objective on 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. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.00.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 1.3 %

Shares of POR stock opened at $44.51 on Friday. The company has a market cap of $4.87 billion, a P/E ratio of 14.79, a PEG ratio of 1.11 and a beta of 0.55. The stock has a 50 day simple moving average of $42.48 and a two-hundred day simple moving average of $45.46. 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 has a fifty-two week low of $40.05 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the previous year, the company posted $0.67 earnings per share. Research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. Portland General Electric’s dividend payout ratio is 66.45%.

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.