22,436 Shares in Portland General Electric (NYSE:POR) Acquired by Choreo LLC

Choreo LLC acquired a new stake in Portland General Electric (NYSE:POR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,436 shares of the utilities provider’s stock, valued at approximately $965,000.

A number of other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Portland General Electric in the second quarter valued at $33,000. Fox Hill Wealth Management boosted its position in Portland General Electric by 7.7% in the 2nd quarter. Fox Hill Wealth Management now owns 29,068 shares of the utilities provider’s stock valued at $1,257,000 after buying an additional 2,077 shares during the last quarter. Quest Partners LLC purchased a new position in Portland General Electric in the 2nd quarter valued at about $40,000. Private Advisor Group LLC grew its stake in shares of Portland General Electric by 39.5% during the second quarter. Private Advisor Group LLC now owns 17,230 shares of the utilities provider’s stock valued at $745,000 after acquiring an additional 4,879 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of Portland General Electric during the second quarter worth about $348,000.

Insiders Place Their Bets

In other news, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at approximately $1,446,816. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,486 shares of company stock worth $262,153. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. Bank of America assumed coverage on Portland General Electric in a report on Thursday. They issued an “underperform” rating and a $47.00 price target for the company. Barclays upped their price objective on Portland General Electric from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. StockNews.com lowered Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Mizuho increased their target price on shares of Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.43.

Portland General Electric Stock Down 0.6 %

Portland General Electric stock opened at $47.55 on Friday. The firm has a market capitalization of $4.90 billion, a P/E ratio of 18.22 and a beta of 0.59. The company has a 50-day simple moving average of $46.66 and a 200-day simple moving average of $43.96. Portland General Electric has a one year low of $38.01 and a one year high of $49.26. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. Portland General Electric’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, equities analysts expect that Portland General Electric will post 3.09 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s payout ratio is currently 76.63%.

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.