Squarepoint Ops LLC Cuts Stock Holdings in Portland General Electric Company $POR

Squarepoint Ops LLC lowered its stake in Portland General Electric Company (NYSE:POR) by 33.3% during the second quarter, Holdings Channel.com reports. The firm owned 136,823 shares of the utilities provider’s stock after selling 68,238 shares during the quarter. Squarepoint Ops LLC’s holdings in Portland General Electric were worth $5,559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thrivent Financial for Lutherans raised its holdings in Portland General Electric by 19.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,172,284 shares of the utilities provider’s stock worth $47,630,000 after purchasing an additional 187,825 shares in the last quarter. State of Wyoming grew its holdings in shares of Portland General Electric by 94.3% during the second quarter. State of Wyoming now owns 14,865 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 7,214 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Portland General Electric by 346.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 16,940 shares of the utilities provider’s stock valued at $688,000 after purchasing an additional 13,145 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Portland General Electric by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 10,548 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 441 shares during the period. Finally, Vident Advisory LLC boosted its position in shares of Portland General Electric by 34.5% in the 2nd quarter. Vident Advisory LLC now owns 6,969 shares of the utilities provider’s stock valued at $283,000 after purchasing an additional 1,788 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Monday, December 8th. LADENBURG THALM/SH SH reaffirmed a “sell” rating and issued a $43.00 target price on shares of Portland General Electric in a report on Thursday, December 4th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. BTIG Research upgraded Portland General Electric to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Mizuho set a $47.00 price target on Portland General Electric in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.33.

Portland General Electric Price Performance

Portland General Electric stock opened at $48.11 on Monday. The company has a market cap of $5.41 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 4.42 and a beta of 0.67. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14. The business has a fifty day moving average of $47.32 and a two-hundred day moving average of $43.72. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s payout ratio is presently 76.36%.

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.