Point72 Hong Kong Ltd Purchases 12,271 Shares of Portland General Electric (NYSE:POR)

Point72 Hong Kong Ltd lifted its holdings in Portland General Electric (NYSE:POR) by 50.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,688 shares of the utilities provider’s stock after purchasing an additional 12,271 shares during the period. Point72 Hong Kong Ltd’s holdings in Portland General Electric were worth $1,586,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Johnson Financial Group Inc. bought a new position in Portland General Electric in the 4th quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in shares of Portland General Electric in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV increased its position in Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 514 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Portland General Electric during the second quarter worth $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric during the 1st quarter valued at $34,000.

Insider Buying and Selling at Portland General Electric

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

Analysts Set New Price Targets

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

Portland General Electric Trading Down 0.0 %

Shares of POR opened at $47.38 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $4.88 billion, a PE ratio of 18.15, a PEG ratio of 1.36 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. The stock has a 50 day simple moving average of $47.47 and a 200-day simple moving average of $44.48.

Portland General Electric (NYSE:POR) last released its quarterly earnings data 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 return on equity of 9.15% and a net margin of 9.24%. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. During the same period in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts predict that Portland General Electric will post 3.08 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is currently 76.63%.

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.