Quarry LP Purchases 1,482 Shares of Portland General Electric (NYSE:POR)

Quarry LP increased its position in shares of Portland General Electric (NYSE:POR) by 962.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,636 shares of the utilities provider’s stock after purchasing an additional 1,482 shares during the period. Quarry LP’s holdings in Portland General Electric were worth $71,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays downgraded shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.78.

Insider Activity at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the 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 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. Over the last quarter, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by insiders.

Portland General Electric Stock Down 1.6 %

Shares of NYSE POR opened at $46.77 on Friday. Portland General Electric has a 1 year low of $39.03 and a 1 year high of $49.45. The firm’s 50-day moving average is $47.53 and its 200-day moving average is $44.72. 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 firm has a market capitalization of $4.82 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same period last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts expect that Portland General Electric will post 3.09 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.28%. Portland General Electric’s dividend payout ratio is presently 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.