Portland General Electric (NYSE:POR) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP increased its stake in shares of Portland General Electric (NYSE:POR) by 83.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 424,701 shares of the utilities provider’s stock after buying an additional 193,164 shares during the quarter. Systematic Financial Management LP owned about 0.41% of Portland General Electric worth $18,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Goldman Sachs Group Inc. raised its holdings in shares of Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Portland General Electric during the second quarter worth about $31,557,000. Marshall Wace LLP boosted its holdings in Portland General Electric by 657.0% in the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after purchasing an additional 273,118 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Portland General Electric by 24.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock valued at $54,857,000 after buying an additional 249,350 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Portland General Electric during the 4th quarter worth approximately $10,272,000.

Wall Street Analysts Forecast Growth

POR has been the subject of several analyst reports. Jefferies Financial Group started coverage on 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. Bank of America initiated coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.78.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now directly owns 22,606 shares in the company, valued at $1,045,527.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock valued at $262,153 over the last quarter. 0.54% of the stock is owned by insiders.

Portland General Electric Trading Up 1.1 %

NYSE POR opened at $48.09 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. Portland General Electric has a one year low of $38.01 and a one year high of $49.45. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.33 and a beta of 0.59. The firm has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $44.55.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. Portland General Electric’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. Equities research analysts anticipate that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

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

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.