12,329 Shares in Portland General Electric (NYSE:POR) Acquired by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD acquired a new stake in Portland General Electric (NYSE:POR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,329 shares of the utilities provider’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Federated Hermes Inc. lifted its stake in shares of Portland General Electric by 18.4% in the fourth quarter. Federated Hermes Inc. now owns 176,893 shares of the utilities provider’s stock worth $7,716,000 after buying an additional 27,537 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Portland General Electric in the 4th quarter valued at about $52,000. Russell Investments Group Ltd. lifted its stake in Portland General Electric by 58.1% in the 4th quarter. Russell Investments Group Ltd. now owns 228,921 shares of the utilities provider’s stock worth $9,986,000 after purchasing an additional 84,104 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Portland General Electric by 6.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 474,792 shares of the utilities provider’s stock worth $20,710,000 after purchasing an additional 29,820 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $520,000.

Portland General Electric Stock Performance

NYSE:POR opened at $42.69 on Monday. Portland General Electric has a fifty-two week low of $38.00 and a fifty-two 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. The company has a 50 day moving average price of $43.28 and a 200 day moving average price of $44.86. The stock has a market capitalization of $4.68 billion, a P/E ratio of 14.18, a PEG ratio of 1.11 and a beta of 0.49.

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

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s 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 sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI lifted their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Barclays upped their price objective on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH cut 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 research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three 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 an average target price of $47.00.

Portland General Electric 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.