Y Intercept Hong Kong Ltd Invests $596,000 in Portland General Electric (NYSE:POR)

Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric (NYSE:POR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,448 shares of the utilities provider’s stock, valued at approximately $596,000.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric in the 3rd quarter valued at approximately $25,000. Allworth Financial LP lifted its holdings 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 worth $30,000 after purchasing an additional 265 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Portland General Electric in the 2nd quarter valued at $33,000. Blue Trust Inc. increased its stake in Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after buying an additional 451 shares during the period. Finally, Quest Partners LLC purchased a new position in Portland General Electric during the 2nd quarter worth $40,000.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays lowered their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. KeyCorp cut their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI initiated coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.13.

Portland General Electric Trading Down 0.1 %

Shares of POR stock opened at $44.48 on Friday. The stock has a market cap of $4.69 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.15 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The business has a fifty day simple moving average of $47.09 and a 200-day simple moving average of $46.28.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $882.66 million. During the same period last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts forecast that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is currently 59.70%.

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.