WINTON GROUP Ltd Increases Stock Position in Portland General Electric (NYSE:POR)

WINTON GROUP Ltd grew its stake in Portland General Electric (NYSE:POR) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,002 shares of the utilities provider’s stock after acquiring an additional 896 shares during the period. WINTON GROUP Ltd’s holdings in Portland General Electric were worth $951,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Portland General Electric by 29.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock valued at $196,089,000 after purchasing an additional 1,017,503 shares during the last quarter. Norges Bank acquired a new stake in shares of Portland General Electric in the fourth quarter valued at $39,112,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Portland General Electric in the second quarter valued at $31,557,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Portland General Electric by 24.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after acquiring an additional 249,350 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of Portland General Electric from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, KeyCorp upgraded shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.43.

Portland General Electric Price Performance

Shares of POR opened at $49.09 on Tuesday. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 18.81 and a beta of 0.59. The firm’s fifty day simple moving average is $47.02 and its 200-day simple moving average is $44.16. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $49.26. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

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

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Tuesday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 76.63%.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 1,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the sale, the chief operating officer now owns 30,142 shares in the company, valued at approximately $1,446,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total transaction of $50,875.00. Following the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at $1,045,527.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Benjamin Felton sold 1,886 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the completion of the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at $1,446,816. The disclosure for this sale can be found here. Insiders have sold 5,486 shares of company stock worth $262,153 over the last three months. Insiders own 0.54% of the company’s stock.

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.