Dark Forest Capital Management LP Purchases 8,427 Shares of Portland General Electric (NYSE:POR)

Dark Forest Capital Management LP grew its position in Portland General Electric (NYSE:POR) by 113.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,872 shares of the utilities provider’s stock after acquiring an additional 8,427 shares during the quarter. Dark Forest Capital Management LP’s holdings in Portland General Electric were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 514 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Portland General Electric in the 1st quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Portland General Electric in the 2nd quarter worth about $33,000. Mather Group LLC. purchased a new stake in shares of Portland General Electric during the 1st quarter valued at about $34,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Portland General Electric by 140.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 919 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 537 shares during the last quarter.

Wall Street Analyst Weigh In

POR has been the topic of a number of recent research reports. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Bank of America started coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus target price of $46.78.

Portland General Electric Price Performance

POR opened at $47.57 on Friday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.36 and a beta of 0.59. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Portland General Electric has a 12-month low of $38.01 and a 12-month high of $49.45. The business’s fifty day simple moving average is $47.49 and its 200-day simple moving average is $44.51.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insider Buying and Selling at Portland General Electric

In related news, COO Benjamin Felton sold 1,886 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,486 shares of company stock valued at $262,153. 0.54% of the stock is currently owned by corporate insiders.

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.