XTX Topco Ltd Acquires New Shares in Portland General Electric (NYSE:POR)

XTX Topco Ltd acquired a new stake in Portland General Electric (NYSE:POR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,843 shares of the utilities provider’s stock, valued at approximately $471,000.

Several other hedge funds have also recently bought and sold shares of POR. Wealth Enhancement Advisory Services LLC increased its stake in Portland General Electric by 7.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,694 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 784 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Portland General Electric by 6.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,313 shares of the utilities provider’s stock worth $446,000 after buying an additional 631 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Portland General Electric during the second quarter worth $4,462,000. Blue Trust Inc. increased its position in Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after buying an additional 451 shares in the last quarter. Finally, First Pacific Financial increased its position in Portland General Electric by 7.1% during the second quarter. First Pacific Financial now owns 11,984 shares of the utilities provider’s stock worth $518,000 after buying an additional 794 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on POR. Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target for the company. Evercore ISI began coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America began coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. Finally, KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.13.

Portland General Electric Price Performance

Shares of NYSE POR opened at $44.48 on Friday. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The business has a 50-day moving average of $47.09 and a 200-day moving average of $46.28. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.15 and a beta of 0.59.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.