Qsemble Capital Management LP Trims Stake in Portland General Electric (NYSE:POR)

Qsemble Capital Management LP lowered its stake in Portland General Electric (NYSE:POR) by 67.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,161 shares of the utilities provider’s stock after selling 10,530 shares during the quarter. Qsemble Capital Management LP’s holdings in Portland General Electric were worth $247,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Portland General Electric by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after buying an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock valued at $64,216,000 after acquiring an additional 97,922 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock valued at $61,219,000 after acquiring an additional 13,720 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Portland General Electric by 72.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after acquiring an additional 530,020 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock valued at $46,561,000 after acquiring an additional 69,392 shares during the last quarter.

Portland General Electric Stock Up 0.7 %

Shares of Portland General Electric stock opened at $48.06 on Thursday. The company has a fifty day moving average price of $47.40 and a 200 day moving average price of $46.13. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a twelve month low of $39.13 and a twelve month high of $49.85. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Portland General Electric will post 3.12 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The firm 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 of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

Analyst Upgrades and Downgrades

POR has been the subject of several analyst reports. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. 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. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company. Finally, Evercore ISI initiated coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.86.

Insider Buying and Selling

In other Portland General Electric 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

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.