Algert Global LLC Increases Position in Portland General Electric (NYSE:POR)

Algert Global LLC increased its position in Portland General Electric (NYSE:POR) by 32.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,367 shares of the utilities provider’s stock after acquiring an additional 52,710 shares during the period. Algert Global LLC’s holdings in Portland General Electric were worth $10,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Massmutual Trust Co. FSB ADV increased its holdings in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. V Square Quantitative Management LLC purchased a new stake in Portland General Electric in the third quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Portland General Electric in the 1st quarter worth approximately $26,000. Allworth Financial LP raised its position in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric during the 2nd quarter valued at approximately $33,000.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 0.1 %

Shares of POR opened at $47.57 on Friday. The firm has a market cap of $5.02 billion, a P/E ratio of 14.20, a PEG ratio of 1.21 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The stock’s 50 day moving average is $47.47 and its two-hundred day moving average is $46.02. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. Analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on POR. Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI began coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. Barclays dropped their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.86.

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.