Yousif Capital Management LLC Increases Position in Portland General Electric (NYSE:POR)

Yousif Capital Management LLC lifted its position in shares of Portland General Electric (NYSE:POR) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 38,990 shares of the utilities provider’s stock after buying an additional 455 shares during the period. Yousif Capital Management LLC’s holdings in Portland General Electric were worth $1,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of POR. Norges Bank purchased a new position in shares of Portland General Electric during the fourth quarter valued at approximately $62,004,000. Fuller & Thaler Asset Management Inc. increased its position in Portland General Electric by 19.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after purchasing an additional 635,987 shares during the last quarter. Vanguard Group Inc. increased its position in Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares during the last quarter. OLD Republic International Corp acquired a new position in Portland General Electric during the fourth quarter worth approximately $22,464,000. Finally, Zimmer Partners LP increased its position in Portland General Electric by 25.2% during the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock worth $100,598,000 after purchasing an additional 463,685 shares during the last quarter.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by insiders.

Portland General Electric Price Performance

Portland General Electric stock opened at $40.26 on Tuesday. Portland General Electric has a 52-week low of $40.03 and a 52-week high of $49.85. The firm has a fifty day moving average of $42.11 and a 200-day moving average of $42.90. The firm has a market capitalization of $4.41 billion, a P/E ratio of 13.38, a PEG ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. As a group, analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 5.22%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 73.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on POR. KeyCorp lowered shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price target for the company. in a research report on Wednesday, May 14th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. BMO Capital Markets began coverage on shares of Portland General Electric in a research report on Tuesday, May 13th. They set a “market perform” rating and a $46.00 price target for the company. Finally, UBS Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and upped their price target for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.60.

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.