Martingale Asset Management L P Has $2.85 Million Stock Holdings in Portland General Electric (NYSE:POR)

Martingale Asset Management L P raised its stake in Portland General Electric (NYSE:POR) by 448.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,353 shares of the utilities provider’s stock after purchasing an additional 53,430 shares during the period. Martingale Asset Management L P’s holdings in Portland General Electric were worth $2,851,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Portland General Electric by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider’s stock valued at $95,968,000 after purchasing an additional 271,540 shares during the last quarter. Bank of Montreal Can grew its holdings in Portland General Electric by 9.2% in the 4th quarter. Bank of Montreal Can now owns 22,833 shares of the utilities provider’s stock valued at $996,000 after buying an additional 1,929 shares in the last quarter. Polymer Capital Management US LLC bought a new position in Portland General Electric during the 4th quarter worth $6,543,000. Polymer Capital Management HK LTD acquired a new stake in shares of Portland General Electric during the fourth quarter worth $538,000. Finally, Federated Hermes Inc. boosted its position in shares of Portland General Electric by 18.4% in the fourth quarter. Federated Hermes Inc. now owns 176,893 shares of the utilities provider’s stock valued at $7,716,000 after acquiring an additional 27,537 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America lowered their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Evercore ISI raised their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.78.

Portland General Electric Trading Down 1.4 %

Shares of POR stock opened at $41.68 on Friday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The stock’s fifty day moving average price is $43.32 and its two-hundred day moving average price is $44.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company has a market cap of $4.56 billion, a PE ratio of 13.85, a P/E/G ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period last year, the firm posted $0.67 earnings per share. Equities analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is 66.45%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by insiders.

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.