Portland General Electric (NYSE:POR) Stock Holdings Reduced by GAMMA Investing LLC

GAMMA Investing LLC lessened its holdings in Portland General Electric (NYSE:POR) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,046 shares of the utilities provider’s stock after selling 602 shares during the quarter. GAMMA Investing LLC’s holdings in Portland General Electric were worth $176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in POR. Commonwealth Equity Services LLC lifted its stake in shares of Portland General Electric by 22.7% in the second quarter. Commonwealth Equity Services LLC now owns 33,296 shares of the utilities provider’s stock worth $1,440,000 after buying an additional 6,159 shares during the last quarter. Arizona State Retirement System increased its position in Portland General Electric by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,337 shares of the utilities provider’s stock worth $1,225,000 after buying an additional 546 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Portland General Electric by 39.5% during the second quarter. Private Advisor Group LLC now owns 17,230 shares of the utilities provider’s stock worth $745,000 after buying an additional 4,879 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Portland General Electric in the second quarter valued at approximately $40,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the second quarter worth $33,000.

Portland General Electric Price Performance

NYSE:POR opened at $42.64 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.50 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company’s 50-day moving average price is $45.68 and its two-hundred day moving average price is $46.36.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the prior year, the company earned $0.46 EPS. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.69%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. KeyCorp lowered their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. Jefferies Financial Group assumed coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.88.

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.