Tidal Investments LLC Has $509,000 Stock Holdings in Portland General Electric (NYSE:POR)

Tidal Investments LLC decreased its position in shares of Portland General Electric (NYSE:POR) by 47.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,635 shares of the utilities provider’s stock after selling 9,776 shares during the period. Tidal Investments LLC’s holdings in Portland General Electric were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Zimmer Partners LP increased its position in Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after purchasing an additional 530,020 shares during the period. Marshall Wace LLP raised 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 buying an additional 273,118 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Portland General Electric by 83.4% in the second quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after buying an additional 193,164 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Portland General Electric during the second quarter worth approximately $7,459,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on POR shares. Jefferies Financial Group began coverage on 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. 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 on the stock. Bank of America began coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $49.13.

Portland General Electric Price Performance

Shares of POR opened at $44.03 on Monday. The business has a 50-day simple moving average of $46.88 and a two-hundred day simple moving average of $46.31. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The stock has a market cap of $4.64 billion, a PE ratio of 13.14, a PEG ratio of 1.13 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data 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 business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.54%. Portland General Electric’s payout ratio is 59.70%.

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.