Point72 Hong Kong Ltd Has $1.59 Million Stock Position in Portland General Electric (NYSE:POR)

Point72 Hong Kong Ltd increased its position in shares of Portland General Electric (NYSE:POR) by 50.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,688 shares of the utilities provider’s stock after acquiring an additional 12,271 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Portland General Electric were worth $1,586,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in Portland General Electric during the 4th quarter worth about $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the period. LRI Investments LLC acquired a new stake in shares of Portland General Electric during the 1st quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Portland General Electric during the second quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new position in Portland General Electric in the first quarter valued at approximately $34,000.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the sale, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the completion of the transaction, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,486 shares of company stock valued at $262,153. Company insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 0.0 %

NYSE POR opened at $47.38 on Thursday. Portland General Electric has a one year low of $38.01 and a one year high of $49.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The firm has a market cap of $4.88 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.36 and a beta of 0.59. The stock’s 50-day moving average is $47.47 and its 200-day moving average is $44.48.

Portland General Electric (NYSE:POR) last announced 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 for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. Sell-side analysts anticipate that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is presently 76.63%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $48.00 to $49.00 in a report on Wednesday, September 18th. Jefferies Financial Group began coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. Evercore ISI started coverage on Portland General Electric in a research note on Wednesday. They issued an “outperform” rating and a $54.00 target price on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric has a consensus rating of “Hold” and an average price target of $46.78.

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.