QRG Capital Management Inc. Raises Position in Portland General Electric (NYSE:POR)

QRG Capital Management Inc. raised its stake in Portland General Electric (NYSE:POR) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,832 shares of the utilities provider’s stock after buying an additional 2,619 shares during the quarter. QRG Capital Management Inc.’s holdings in Portland General Electric were worth $1,956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares during the last quarter. First Pacific Financial raised its stake in shares of Portland General Electric by 2.9% in the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $46.49 on Friday. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The stock has a fifty day simple moving average of $47.74 and a two-hundred day simple moving average of $45.79. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same period last year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Evercore ISI began coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays reduced their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.13.

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’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 sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.