Sagefield Capital LP Grows Holdings in Portland General Electric (NYSE:POR)

Sagefield Capital LP grew its position in Portland General Electric (NYSE:POR) by 55.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,079 shares of the utilities provider’s stock after acquiring an additional 32,066 shares during the period. Sagefield Capital LP owned about 0.09% of Portland General Electric worth $3,895,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in shares of Portland General Electric in the 4th quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its position in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Portland General Electric in the first quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric during the 2nd quarter worth approximately $33,000. Finally, Mather Group LLC. purchased a new position in shares of Portland General Electric during the 1st quarter valued at approximately $34,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on POR shares. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday. They issued a “hold” rating and a $48.00 price target on the stock. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Bank of America assumed coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $45.88.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,486 shares of company stock worth $262,153. Insiders own 0.54% of the company’s stock.

Portland General Electric Trading Up 0.8 %

Shares of Portland General Electric stock opened at $48.08 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $47.43 and its 200-day simple moving average is $44.42. The stock has a market cap of $4.95 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.38 and a beta of 0.59. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.45.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $716.43 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts predict that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is currently 76.63%.

Portland General Electric 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.