GAMMA Investing LLC Has $223,000 Position in Portland General Electric (NYSE:POR)

GAMMA Investing LLC raised its stake in shares of Portland General Electric (NYSE:POR) by 72.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,648 shares of the utilities provider’s stock after purchasing an additional 1,951 shares during the period. GAMMA Investing LLC’s holdings in Portland General Electric were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of POR. Goldman Sachs Group Inc. grew its stake 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 buying an additional 1,017,503 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Portland General Electric during the second quarter valued at about $31,557,000. Marshall Wace LLP grew its position in shares of Portland General Electric by 657.0% in the second 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. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Portland General Electric in the fourth quarter worth about $10,272,000. Finally, Vanguard Group Inc. lifted its position in shares of Portland General Electric by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock worth $483,069,000 after purchasing an additional 212,981 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Evercore ISI assumed coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target 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. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Price Performance

NYSE:POR opened at $46.48 on Friday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.30 and a beta of 0.59. The company has a 50-day moving average of $47.41 and a 200-day moving average of $44.90. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00.

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

Portland General Electric Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s dividend payout ratio is 76.63%.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the completion of the transaction, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. This trade represents a 0.00 % decrease in their ownership of the stock. 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 the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total transaction of $50,875.00. Following the sale, the vice president now directly owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The trade was a 0.00 % decrease in their position. 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. Company insiders own 0.54% of the company’s stock.

Portland General Electric 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.