11,314 Shares in Portland General Electric (NYSE:POR) Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in shares of Portland General Electric (NYSE:POR) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 11,314 shares of the utilities provider’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also bought and sold shares of POR. International Assets Investment Management LLC boosted its position in Portland General Electric by 4,690.5% in the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,970 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Portland General Electric by 6.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,504 shares of the utilities provider’s stock worth $599,000 after purchasing an additional 810 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Portland General Electric by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 12,011 shares of the utilities provider’s stock worth $575,000 after purchasing an additional 810 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Portland General Electric by 39.8% during the 3rd quarter. New York State Teachers Retirement System now owns 33,766 shares of the utilities provider’s stock valued at $1,617,000 after buying an additional 9,605 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Portland General Electric by 18.5% during the 3rd quarter. US Bancorp DE now owns 19,118 shares of the utilities provider’s stock valued at $916,000 after buying an additional 2,984 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on POR shares. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Bank of America dropped their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp dropped their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Finally, Barclays upped their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.00.

Portland General Electric Stock Performance

Shares of POR opened at $44.51 on Friday. The stock’s 50-day simple moving average is $42.48 and its 200 day simple moving average is $45.46. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its 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. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the prior year, the company earned $0.67 EPS. Research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Company 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.