Portland General Electric Company (NYSE:POR) Stock Position Boosted by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its stake in Portland General Electric Company (NYSE:POR) by 107,754.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,885 shares of the utilities provider’s stock after acquiring an additional 25,861 shares during the quarter. Picton Mahoney Asset Management’s holdings in Portland General Electric were worth $1,155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of POR. American Century Companies Inc. boosted its position in shares of Portland General Electric by 3.7% during the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after purchasing an additional 5,084 shares in the last quarter. LPL Financial LLC boosted its position in shares of Portland General Electric by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider’s stock valued at $2,124,000 after purchasing an additional 12,265 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Portland General Electric by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock valued at $145,403,000 after purchasing an additional 93,903 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Portland General Electric by 13.2% during the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 692 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Portland General Electric during the 4th quarter valued at about $62,004,000.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,937 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $40.10, for a total value of $77,673.70. Following the transaction, the director owned 13,509 shares in the company, valued at approximately $541,710.90. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

POR has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Wall Street Zen raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, April 25th. Evercore ISI reduced their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, May 19th. Finally, Barclays reduced their price objective on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.40.

Portland General Electric Price Performance

NYSE POR opened at $41.33 on Thursday. The company has a 50 day simple moving average of $41.03 and a 200-day simple moving average of $42.14. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. Portland General Electric Company has a 52-week low of $39.54 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to analyst estimates of $797.97 million. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 5.08%. Portland General Electric’s dividend payout ratio is currently 77.49%.

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.