150,000 Shares in Portland General Electric (NYSE:POR) Bought by Polymer Capital Management US LLC

Polymer Capital Management US LLC acquired a new stake in shares of Portland General Electric (NYSE:POR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,000 shares of the utilities provider’s stock, valued at approximately $6,543,000. Portland General Electric comprises 1.8% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 10th biggest holding. Polymer Capital Management US LLC owned 0.14% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Portland General Electric in the 4th quarter valued at about $62,004,000. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $32,553,000. Vanguard Group Inc. boosted its holdings in shares of Portland General Electric by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares during the period. OLD Republic International Corp bought a new position in shares of Portland General Electric during the 4th quarter valued at approximately $22,464,000. Finally, Brandywine Global Investment Management LLC raised its holdings in Portland General Electric by 1,510.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider’s stock valued at $15,665,000 after buying an additional 336,823 shares during the period.

Portland General Electric Stock Performance

POR stock opened at $42.69 on Monday. Portland General Electric has a 1-year low of $38.00 and a 1-year high of $49.85. The business has a 50-day moving average price of $43.28 and a 200 day moving average price of $44.86. The company 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. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

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

Portland General Electric Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on POR shares. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. UBS Group reiterated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group cut their target price 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. Finally, Barclays raised their price target on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.00.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 directly 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 filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.

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.