Sivia Capital Partners LLC Buys Shares of 7,848 Portland General Electric (NYSE:POR)

Sivia Capital Partners LLC purchased a new position in shares of Portland General Electric (NYSE:POR) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 7,848 shares of the utilities provider’s stock, valued at approximately $350,000.

Several other hedge funds and other institutional investors have also made changes to their positions in POR. Retirement Systems of Alabama boosted its stake in shares of Portland General Electric by 2.4% in the fourth quarter. Retirement Systems of Alabama now owns 128,226 shares of the utilities provider’s stock valued at $5,593,000 after purchasing an additional 3,024 shares during the period. Choreo LLC grew its stake in shares of Portland General Electric by 1.4% in the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock worth $1,166,000 after acquiring an additional 371 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Portland General Electric in the fourth quarter worth $1,523,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric in the fourth quarter worth $29,000.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, May 19th. LADENBURG THALM/SH SH downgraded Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, February 18th. Evercore ISI lowered 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. Barclays lowered their price target on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.60.

Portland General Electric Trading Down 0.6%

NYSE POR opened at $40.97 on Monday. The firm’s fifty day moving average price is $42.31 and its 200 day moving average price is $43.19. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data 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 return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $977.02 million. During the same period in the previous year, the business posted $1.21 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Portland General Electric will post 3.21 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 Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a yield of 5.13%. Portland General Electric’s payout ratio is 73.94%.

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.