Quantbot Technologies LP Sells 272 Shares of Portland General Electric (NYSE:POR)

Quantbot Technologies LP trimmed its holdings in shares of Portland General Electric (NYSE:POR) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,925 shares of the utilities provider’s stock after selling 272 shares during the period. Quantbot Technologies LP’s holdings in Portland General Electric were worth $2,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Leeward Investments LLC MA increased its stake in Portland General Electric by 16.9% in the fourth quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider’s stock valued at $23,694,000 after purchasing an additional 79,052 shares in the last quarter. Comerica Bank increased its position in shares of Portland General Electric by 309.9% during the third quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock worth $7,046,000 after acquiring an additional 131,589 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Portland General Electric by 205.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock worth $3,338,000 after acquiring an additional 52,620 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric during the fourth quarter worth $3,644,000. Finally, Jump Financial LLC bought a new stake in shares of Portland General Electric during the fourth quarter worth $1,788,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brett Michael Sims sold 963 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $45.03, for a total transaction of $43,363.89. Following the sale, the vice president now owns 13,996 shares of the company’s stock, valued at approximately $630,239.88. The disclosure for this sale can be found here. Insiders sold a total of 6,463 shares of company stock worth $274,064 over the last quarter. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on POR shares. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Mizuho increased their price objective on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Portland General Electric Stock Up 0.7 %

POR traded up $0.31 during trading hours on Friday, hitting $44.90. 831,279 shares of the company’s stock were exchanged, compared to its average volume of 960,510. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $49.72. The stock’s 50-day moving average is $43.52 and its two-hundred day moving average is $42.26. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 17.20 and a beta of 0.58. The company has a quick ratio of 1.09, a current ratio of 1.22 and a debt-to-equity ratio of 1.34.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. Sell-side analysts predict that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.45%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is currently 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.