Squarepoint Ops LLC Buys 15,241 Shares of Portland General Electric (NYSE:POR)

Squarepoint Ops LLC raised its stake in shares of Portland General Electric (NYSE:POR) by 33.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 60,325 shares of the utilities provider’s stock after acquiring an additional 15,241 shares during the period. Squarepoint Ops LLC owned approximately 0.06% of Portland General Electric worth $2,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. HITE Hedge Asset Management LLC increased its position in shares of 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 purchasing an additional 97,922 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Portland General Electric by 47.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 187,579 shares of the utilities provider’s stock valued at $8,111,000 after purchasing an additional 59,936 shares during the last quarter. Marshall Wace LLP increased its position in shares of Portland General Electric by 657.0% during the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock valued at $13,607,000 after purchasing an additional 273,118 shares during the last quarter. Sagefield Capital LP increased its position in shares of Portland General Electric by 55.3% during the 2nd quarter. Sagefield Capital LP now owns 90,079 shares of the utilities provider’s stock valued at $3,895,000 after purchasing an additional 32,066 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Portland General Electric by 27.1% during the 2nd quarter. Bank of Montreal Can now owns 18,680 shares of the utilities provider’s stock valued at $809,000 after purchasing an additional 3,988 shares during the last quarter.

Portland General Electric Trading Down 0.5 %

POR stock opened at $47.53 on Thursday. Portland General Electric has a 1-year low of $38.01 and a 1-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 company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.35 and a beta of 0.59. The business has a 50 day simple moving average of $47.56 and a two-hundred day simple moving average of $44.69.

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, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. Research analysts anticipate that Portland General Electric will post 3.09 EPS for the current fiscal year.

Portland General Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased 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 shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 target price for the company. Finally, Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus target price of $46.78.

Insider Activity

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction 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 approximately $688,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of Portland General Electric stock in a transaction 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 $1,045,527.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, 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 worth $262,153. 0.54% of the stock is currently owned by insiders.

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.