AlphaQuest LLC Has $1.70 Million Stock Position in Portland General Electric Company $POR

AlphaQuest LLC raised its position in Portland General Electric Company (NYSE:POR) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,889 shares of the utilities provider’s stock after purchasing an additional 4,583 shares during the quarter. AlphaQuest LLC’s holdings in Portland General Electric were worth $1,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of POR. Janney Montgomery Scott LLC purchased a new position in Portland General Electric in the first quarter valued at about $1,321,000. State of Alaska Department of Revenue grew its stake in Portland General Electric by 6.5% in the first quarter. State of Alaska Department of Revenue now owns 12,806 shares of the utilities provider’s stock valued at $571,000 after purchasing an additional 780 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Portland General Electric by 1.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,878 shares of the utilities provider’s stock valued at $887,000 after purchasing an additional 335 shares in the last quarter. Trust Co. of Vermont grew its stake in Portland General Electric by 5.4% in the first quarter. Trust Co. of Vermont now owns 8,994 shares of the utilities provider’s stock valued at $401,000 after purchasing an additional 458 shares in the last quarter. Finally, KBC Group NV grew its stake in Portland General Electric by 29.3% in the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 1,068 shares in the last quarter.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 2,603 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $41.35, for a total value of $107,634.05. Following the completion of the transaction, the chief financial officer directly owned 27,089 shares of the company’s stock, valued at approximately $1,120,130.15. This represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Maria M. Pope sold 18,896 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 194,135 shares of the company’s stock, valued at approximately $8,250,737.50. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $46.17 on Friday. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $49.85. The firm has a market capitalization of $5.06 billion, a PE ratio of 17.04, a PEG ratio of 4.19 and a beta of 0.62. The business’s 50 day moving average is $43.20 and its 200-day moving average is $42.17. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Portland General Electric had a return on equity of 8.07% and a net margin of 8.43%.The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same quarter last year, the firm earned $0.69 EPS. Portland General Electric’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is presently 77.49%.

Analysts Set New Price Targets

POR has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Portland General Electric in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday. Barclays upped their price target on Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, BTIG Research upgraded Portland General Electric to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $46.73.

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.