DC Investments Management LLC Acquires 17,093 Shares of Portland General Electric (NYSE:POR)

DC Investments Management LLC lifted its holdings in Portland General Electric (NYSE:POR) by 47.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 53,002 shares of the utilities provider’s stock after acquiring an additional 17,093 shares during the quarter. Portland General Electric accounts for about 1.5% of DC Investments Management LLC’s holdings, making the stock its 19th biggest holding. DC Investments Management LLC’s holdings in Portland General Electric were worth $2,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in POR. Norges Bank purchased a new position in Portland General Electric in the 4th quarter worth approximately $62,004,000. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric during the 4th quarter valued at $32,553,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock valued at $172,720,000 after purchasing an additional 635,987 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after acquiring an additional 572,531 shares during the last quarter. Finally, OLD Republic International Corp purchased a new position in Portland General Electric in the fourth quarter worth about $22,464,000.

Analyst Ratings Changes

POR has been the topic of a number of research analyst reports. Barclays lowered their price target on Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Evercore ISI cut their price objective on 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. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $45.40.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock valued at $159,946 in the last ninety days. Insiders own 0.40% of the company’s stock.

Portland General Electric Stock Performance

NYSE:POR opened at $42.59 on Thursday. The company has a market capitalization of $4.66 billion, a P/E ratio of 14.15, a PEG ratio of 1.11 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a fifty day simple moving average of $43.24 and a 200-day simple moving average of $44.04.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $977.02 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.93%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric’s payout ratio is presently 73.94%.

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.