Bayforest Capital Ltd Buys 11,825 Shares of Portland General Electric Company $POR

Bayforest Capital Ltd increased its stake in shares of Portland General Electric Company (NYSE:POR) by 115.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,072 shares of the utilities provider’s stock after buying an additional 11,825 shares during the quarter. Portland General Electric comprises approximately 0.5% of Bayforest Capital Ltd’s investment portfolio, making the stock its 18th biggest position. Bayforest Capital Ltd’s holdings in Portland General Electric were worth $971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its position in Portland General Electric by 22.7% during the third quarter. State of Alaska Department of Revenue now owns 15,082 shares of the utilities provider’s stock worth $662,000 after purchasing an additional 2,791 shares during the period. Ethos Financial Group LLC lifted its holdings in shares of Portland General Electric by 7.3% during the 3rd quarter. Ethos Financial Group LLC now owns 27,773 shares of the utilities provider’s stock worth $1,222,000 after acquiring an additional 1,891 shares during the period. SG Americas Securities LLC boosted its position in shares of Portland General Electric by 143.8% during the 3rd quarter. SG Americas Securities LLC now owns 88,381 shares of the utilities provider’s stock worth $3,889,000 after acquiring an additional 52,127 shares in the last quarter. Castellan Group increased its stake in Portland General Electric by 5.2% in the third quarter. Castellan Group now owns 82,503 shares of the utilities provider’s stock valued at $3,630,000 after acquiring an additional 4,083 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in Portland General Electric by 6.3% during the third quarter. Park Avenue Securities LLC now owns 23,392 shares of the utilities provider’s stock valued at $1,029,000 after purchasing an additional 1,378 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on POR shares. Jefferies Financial Group raised their target price on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Loop Capital set a $48.00 price objective on Portland General Electric in a research note on Tuesday, December 30th. LADENBURG THALM/SH SH reiterated a “sell” rating and issued a $43.00 target price on shares of Portland General Electric in a research report on Thursday, December 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Portland General Electric in a report on Monday, December 29th. Finally, Mizuho set a $47.00 price target on shares of Portland General Electric in a report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.58.

Portland General Electric Stock Performance

NYSE:POR opened at $48.86 on Friday. The stock’s 50-day moving average is $48.74 and its 200-day moving average is $44.70. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $51.14. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25. The stock has a market cap of $5.50 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 4.28 and a beta of 0.67.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The business had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. During the same quarter last year, the business earned $0.90 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s dividend payout ratio is presently 76.36%.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.