BlueCrest Capital Management Ltd Makes New Investment in Portland General Electric (NYSE:POR)

BlueCrest Capital Management Ltd acquired a new stake in shares of Portland General Electric (NYSE:POR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,348 shares of the utilities provider’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently modified their holdings of POR. V Square Quantitative Management LLC purchased a new position in Portland General Electric during the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Allworth Financial LP grew its position in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Portland General Electric in the second quarter worth about $33,000. Finally, Blue Trust Inc. lifted its position in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after buying an additional 451 shares in the last quarter.

Insider Buying and Selling

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on POR shares. Barclays cut their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI assumed coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.86.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $47.93 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.22 and a beta of 0.59. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The firm’s 50-day moving average is $47.40 and its 200 day moving average is $46.17.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts predict that Portland General Electric will post 3.12 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.17%. Portland General Electric’s dividend payout ratio is currently 59.70%.

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.