Schonfeld Strategic Advisors LLC Invests $860,000 in Portland General Electric (NYSE:POR)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of Portland General Electric (NYSE:POR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,714 shares of the utilities provider’s stock, valued at approximately $860,000.

Several other institutional investors also recently modified their holdings of POR. Franklin Resources Inc. lifted its stake in Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares during the period. Assenagon Asset Management S.A. bought a new stake in Portland General Electric in the 4th quarter worth approximately $32,553,000. Park Avenue Securities LLC raised its stake in Portland General Electric by 24.0% during the 4th quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider’s stock valued at $910,000 after buying an additional 4,044 shares during the last quarter. USA Financial Formulas purchased a new stake in Portland General Electric during the 4th quarter valued at $71,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock valued at $372,000 after buying an additional 465 shares during the period.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,795 shares of company stock worth $159,946. Insiders own 0.40% of the company’s stock.

Portland General Electric Trading Down 0.6 %

Shares of POR stock opened at $42.33 on Friday. 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 stock has a fifty day simple moving average of $43.19 and a two-hundred day simple moving average of $44.00. The firm has a market capitalization of $4.64 billion, a PE ratio of 14.06, a PEG ratio of 1.11 and a beta of 0.57. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same period last year, the business posted $1.21 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.96%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 73.94%.

Wall Street Analyst Weigh In

A number of analysts recently commented on POR shares. Evercore ISI reduced their price objective on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average price target of $45.40.

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.