Inceptionr LLC Raises Position in Portland General Electric Company $POR

Inceptionr LLC grew its stake in Portland General Electric Company (NYSE:POR) by 38.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,246 shares of the utilities provider’s stock after purchasing an additional 5,670 shares during the period. Inceptionr LLC’s holdings in Portland General Electric were worth $823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Portland General Electric by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 12,472,333 shares of the utilities provider’s stock valued at $556,266,000 after buying an additional 559,201 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Portland General Electric by 22.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,864,352 shares of the utilities provider’s stock worth $216,950,000 after buying an additional 904,692 shares during the period. ATLAS Infrastructure Partners UK Ltd. increased its position in Portland General Electric by 164.5% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,400,635 shares of the utilities provider’s stock valued at $196,268,000 after acquiring an additional 2,736,811 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Portland General Electric by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,878,528 shares of the utilities provider’s stock valued at $128,382,000 after acquiring an additional 366,640 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Portland General Electric by 4.2% in the second quarter. Geode Capital Management LLC now owns 2,764,380 shares of the utilities provider’s stock valued at $112,337,000 after acquiring an additional 110,567 shares during the period.

Portland General Electric Price Performance

Shares of POR stock opened at $50.76 on Thursday. The company has a market capitalization of $5.71 billion, a P/E ratio of 18.73, a P/E/G ratio of 4.18 and a beta of 0.67. The company’s 50-day simple moving average is $45.92 and its two-hundred day simple moving average is $43.13. Portland General Electric Company has a one year low of $39.54 and a one year high of $50.95. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.97 and a quick ratio of 0.84.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.Portland General Electric’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.1%. Portland General Electric’s dividend payout ratio is presently 76.36%.

Insider Activity at Portland General Electric

In related news, CEO Maria M. Pope sold 18,896 shares of Portland General Electric stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the sale, the chief executive officer directly owned 194,135 shares in the company, valued at $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on POR shares. UBS Group reaffirmed a “neutral” rating and set a $51.00 price target on shares of Portland General Electric in a research note on Wednesday, November 19th. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group boosted their target price on Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company initiated coverage on Portland General Electric in a report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, Zacks Research raised Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.92.

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.