New Age Alpha Advisors LLC Purchases New Shares in Portland General Electric (NYSE:POR)

New Age Alpha Advisors LLC acquired a new position in Portland General Electric (NYSE:POR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,396 shares of the utilities provider’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in POR. Arizona State Retirement System grew its holdings in shares of Portland General Electric by 0.8% in the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock valued at $1,305,000 after acquiring an additional 245 shares in the last quarter. Choreo LLC grew its stake in Portland General Electric by 1.4% in the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 371 shares during the period. Versant Capital Management Inc grew its stake in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. Townsquare Capital LLC increased its position in shares of Portland General Electric by 6.4% during the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 458 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares during the period.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Portland General Electric Stock Performance

Shares of POR opened at $44.64 on Thursday. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The stock’s 50-day simple moving average is $43.18 and its 200 day simple moving average is $44.97. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the firm posted $0.67 earnings per share. Research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on POR shares. UBS Group restated 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. Barclays increased their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Evercore ISI increased their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average target price of $47.00.

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.