nVerses Capital LLC Purchases Shares of 6,700 Portland General Electric (NYSE:POR)

nVerses Capital LLC acquired a new position in shares of Portland General Electric (NYSE:POR) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,700 shares of the utilities provider’s stock, valued at approximately $321,000.

Several other large investors have also made changes to their positions in POR. Kapitalo Investimentos Ltda purchased a new position in shares of Portland General Electric in the 3rd quarter worth about $218,000. First Pacific Financial increased its position in Portland General Electric by 2.9% during the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 347 shares in the last quarter. Creative Planning raised its holdings in Portland General Electric by 5.4% in the third quarter. Creative Planning now owns 25,426 shares of the utilities provider’s stock valued at $1,218,000 after buying an additional 1,297 shares during the period. Oliver Luxxe Assets LLC lifted its position in Portland General Electric by 40.8% during the third quarter. Oliver Luxxe Assets LLC now owns 97,019 shares of the utilities provider’s stock valued at $4,647,000 after buying an additional 28,097 shares in the last quarter. Finally, Viking Fund Management LLC purchased a new stake in Portland General Electric during the third quarter worth approximately $192,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on POR. Bank of America assumed coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays lowered Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price 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, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $47.00.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Portland General Electric 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 completion of the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of Portland General Electric 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 transaction, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock valued at $262,153 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 0.3 %

NYSE:POR opened at $48.40 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. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one year high of $49.45. The stock has a 50-day simple moving average of $47.57 and a 200 day simple moving average of $45.17.

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, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $758.00 million during 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%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. Sell-side analysts predict that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.13%. Portland General Electric’s dividend payout ratio is currently 68.73%.

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.