Portland General Electric (NYSE:POR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Portland General Electric (NYSE:POR) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,330 shares of the utilities provider’s stock after buying an additional 9,715 shares during the quarter. Van ECK Associates Corp owned 0.09% of Portland General Electric worth $4,071,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Allworth Financial LP raised its position in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the period. Choreo LLC increased its position in Portland General Electric by 1.4% in the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after buying an additional 371 shares during the period. Versant Capital Management Inc raised its stake 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 valued at $33,000 after purchasing an additional 450 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Portland General Electric by 6.4% during the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after buying 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% in the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock valued at $372,000 after purchasing an additional 465 shares in the last quarter.

Portland General Electric Trading Up 1.3 %

NYSE POR opened at $43.36 on Thursday. The company has a market cap of $4.57 billion, a PE ratio of 14.40, a PEG ratio of 1.06 and a beta of 0.61. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $42.41 and a 200-day moving average of $45.62. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85.

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, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.2 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on POR shares. JPMorgan Chase & Co. increased their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. 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 report on Tuesday. KeyCorp decreased their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Bank of America dropped their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Finally, Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.44.

Insiders Place Their Bets

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 value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

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.