Marshall Wace LLP Increases Holdings in Portland General Electric (NYSE:POR)

Marshall Wace LLP boosted its position in Portland General Electric (NYSE:POR) by 133.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,393 shares of the utilities provider’s stock after purchasing an additional 167,715 shares during the period. Marshall Wace LLP’s holdings in Portland General Electric were worth $12,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Portland General Electric in the fourth quarter valued at $62,004,000. Assenagon Asset Management S.A. acquired a new position in Portland General Electric during the fourth quarter worth about $32,553,000. Vanguard Group Inc. lifted its holdings in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock valued at $519,651,000 after purchasing an additional 572,531 shares in the last quarter. OLD Republic International Corp acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $22,464,000. Finally, Brandywine Global Investment Management LLC increased its stake in shares of 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 worth $15,665,000 after purchasing an additional 336,823 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America lowered their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. 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 report on Tuesday, February 18th. Jefferies Financial Group reduced their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded 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 report on Tuesday, February 18th. Finally, 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 research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus target price of $45.78.

Portland General Electric Trading Down 1.6 %

Shares of POR stock opened at $42.39 on Tuesday. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The firm’s 50-day simple moving average is $43.53 and its 200-day simple moving average is $44.41. The firm has a market cap of $4.64 billion, a P/E ratio of 14.08, 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, equities analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Tuesday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is 66.45%.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company’s stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock worth $159,946 in the last three months. 0.40% of the stock is currently owned by company insiders.

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.