ATLAS Infrastructure Partners UK Ltd. Has $72.58 Million Stake in Portland General Electric (NYSE:POR)

ATLAS Infrastructure Partners UK Ltd. reduced its position in Portland General Electric (NYSE:POR) by 47.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,663,824 shares of the utilities provider’s stock after selling 1,488,658 shares during the period. Portland General Electric comprises 17.4% of ATLAS Infrastructure Partners UK Ltd.’s holdings, making the stock its 3rd largest position. ATLAS Infrastructure Partners UK Ltd. owned about 1.58% of Portland General Electric worth $72,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $29,000. Versant Capital Management Inc boosted its position in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric in the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,096 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on POR. Evercore ISI lowered their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company lowered their target price on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group reduced their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Finally, UBS Group reissued a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.10.

Insider Buying and Selling at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock worth $159,946 over the last 90 days. Insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 0.6 %

POR opened at $41.80 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a 50-day simple moving average of $43.36 and a 200 day simple moving average of $44.16.

Portland General Electric (NYSE:POR) last posted its quarterly 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 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 analyst estimates of $977.02 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was down .1% on a year-over-year basis. Analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.02%. Portland General Electric’s dividend payout ratio (DPR) is 73.94%.

Portland General Electric 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.