Duality Advisers LP Invests $1.39 Million in Portland General Electric (NYSE:POR)

Duality Advisers LP bought a new position in shares of Portland General Electric (NYSE:POR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,108 shares of the utilities provider’s stock, valued at approximately $1,392,000.

Other large investors also recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Portland General Electric by 59.6% during the 4th quarter. Signaturefd LLC now owns 2,073 shares of the utilities provider’s stock worth $90,000 after buying an additional 774 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Portland General Electric during the 4th quarter worth $221,000. John G Ullman & Associates Inc. lifted its position in shares of Portland General Electric by 11.7% during the 4th quarter. John G Ullman & Associates Inc. now owns 144,400 shares of the utilities provider’s stock worth $6,258,000 after buying an additional 15,150 shares during the last quarter. Xponance Inc. lifted its position in shares of Portland General Electric by 2.0% during the 4th quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock worth $634,000 after buying an additional 282 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Portland General Electric by 19.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,442 shares of the utilities provider’s stock worth $929,000 after buying an additional 3,551 shares during the last quarter.

Portland General Electric Price Performance

Shares of POR opened at $43.54 on Wednesday. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 18.69 and a beta of 0.57. The business has a 50-day moving average of $41.21 and a 200-day moving average of $41.47.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business had revenue of $725.00 million for the quarter, compared to analyst estimates of $740.21 million. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 24th. This represents a $2.00 annualized dividend and a yield of 4.59%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Insider Buying and Selling

In related news, COO Benjamin Felton sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on POR. Barclays dropped their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $43.00 in a research report on Monday, February 5th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Mizuho reiterated a “neutral” rating and issued a $42.00 target price (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.13.

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.