JPMorgan Chase & Co. Increases Stake in Portland General Electric (NYSE:POR)

JPMorgan Chase & Co. boosted its stake in Portland General Electric (NYSE:POR) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,333,393 shares of the utilities provider’s stock after buying an additional 93,903 shares during the period. JPMorgan Chase & Co. owned 3.16% of Portland General Electric worth $145,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in POR. Quantbot Technologies LP bought a new stake in shares of Portland General Electric during the third quarter valued at approximately $534,000. Townsquare Capital LLC lifted its position in Portland General Electric by 6.4% during the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after buying an additional 458 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Portland General Electric by 3.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,689 shares of the utilities provider’s stock valued at $1,087,000 after buying an additional 670 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Portland General Electric in the 3rd quarter worth about $571,000. Finally, Walleye Capital LLC bought a new position in shares of Portland General Electric in the 3rd quarter worth about $211,000.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, February 18th. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Bank of America dropped their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Price Performance

NYSE POR opened at $44.75 on Wednesday. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The stock has a 50-day moving average of $43.11 and a 200 day moving average of $44.97. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the previous year, the business posted $0.67 earnings per share. On average, sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. Portland General Electric’s payout ratio is 66.45%.

About Portland General Electric

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.