Quantbot Technologies LP Acquires New Position in Portland General Electric (NYSE:POR)

Quantbot Technologies LP acquired a new stake in Portland General Electric (NYSE:POR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,157 shares of the utilities provider’s stock, valued at approximately $534,000.

A number of other hedge funds have also added to or reduced their stakes in POR. Dimensional Fund Advisors LP boosted its stake in shares of Portland General Electric by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in Portland General Electric by 7.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock valued at $61,219,000 after acquiring an additional 13,720 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Portland General Electric by 72.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after acquiring an additional 530,020 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after purchasing an additional 69,392 shares during the last quarter.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction 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 trade was a 14.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Portland General Electric Stock Performance

Shares of POR opened at $47.13 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a 50-day moving average of $47.38 and a two-hundred day moving average of $46.22. The stock has a market cap of $4.97 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.20 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one 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 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts predict that Portland General Electric will post 3.12 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.24%. Portland General Electric’s payout ratio is currently 59.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on POR. Barclays cut their target price on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. JPMorgan Chase & Co. lifted their price target 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. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Bank of America assumed coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $48.86.

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.