Portland General Electric (NYSE:POR) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lessened its holdings in shares of Portland General Electric (NYSE:POR) by 13.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,046 shares of the utilities provider’s stock after selling 602 shares during the quarter. GAMMA Investing LLC’s holdings in Portland General Electric were worth $176,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of POR. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric in the third quarter worth $25,000. Allworth Financial LP boosted its position in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Portland General Electric in the 2nd quarter valued at $33,000. Versant Capital Management Inc raised its position in Portland General Electric by 151.0% in the fourth 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. Finally, Quest Partners LLC acquired a new position in shares of Portland General Electric during the second quarter worth about $40,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on POR. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Evercore ISI began coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $42.64 on Thursday. The firm has a market cap of $4.50 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm’s 50-day simple moving average is $45.68 and its 200-day simple moving average is $46.36. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. Equities analysts forecast that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.69%. Portland General Electric’s payout ratio is 59.70%.

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.