Inceptionr LLC Makes New $668,000 Investment in Portland General Electric (NYSE:POR)

Inceptionr LLC purchased a new position in shares of Portland General Electric (NYSE:POR) in the fourth quarter, HoldingsChannel reports. The fund purchased 15,309 shares of the utilities provider’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric during the 4th quarter worth about $29,000. Versant Capital Management Inc lifted its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. lifted its position in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 769 shares during the period. USA Financial Formulas purchased a new position in shares of Portland General Electric during the 4th quarter valued at about $71,000. Finally, International Assets Investment Management LLC raised its stake in shares of Portland General Electric by 4,690.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,970 shares during the last quarter.

Insiders Place Their Bets

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

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $44.51 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The business has a 50-day moving average price of $42.48 and a 200 day moving average price of $45.46. The firm has a market cap of $4.87 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the previous year, the business earned $0.67 EPS. Sell-side analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on POR shares. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, UBS Group reiterated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and an average price target of $47.00.

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.