GSA Capital Partners LLP Has $780,000 Position in Portland General Electric (NYSE:POR)

GSA Capital Partners LLP increased its holdings in shares of Portland General Electric (NYSE:POR) by 117.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,294 shares of the utilities provider’s stock after purchasing an additional 8,814 shares during the period. GSA Capital Partners LLP’s holdings in Portland General Electric were worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of POR. Gabelli Funds LLC lifted its stake in Portland General Electric by 3.8% in the first quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider’s stock valued at $12,476,000 after buying an additional 11,000 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Portland General Electric by 274.5% during the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock worth $8,303,000 after acquiring an additional 144,900 shares during the period. Edgestream Partners L.P. lifted its position in Portland General Electric by 299.1% in the 1st quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider’s stock valued at $4,326,000 after acquiring an additional 77,185 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Portland General Electric by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider’s stock worth $20,175,000 after purchasing an additional 55,555 shares during the period. Finally, Cetera Advisors LLC increased its holdings in Portland General Electric by 231.6% during the 1st quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider’s stock worth $819,000 after purchasing an additional 13,618 shares in the last quarter.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated 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 approximately $688,902.90. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

POR has been the topic of several recent research reports. Jefferies Financial Group started coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Barclays reduced their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Bank of America started coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.86.

Portland General Electric Stock Performance

NYSE POR opened at $46.65 on Friday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $47.55 and its two-hundred day moving average price is $45.93. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the prior year, the firm earned $0.46 EPS. Portland General Electric’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.