Leeward Investments LLC MA Boosts Position in Portland General Electric (NYSE:POR)

Leeward Investments LLC MA increased its holdings in shares of Portland General Electric (NYSE:POR) by 16.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 546,701 shares of the utilities provider’s stock after acquiring an additional 79,052 shares during the quarter. Portland General Electric comprises approximately 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 21st largest holding. Leeward Investments LLC MA’s holdings in Portland General Electric were worth $23,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in Portland General Electric by 309.9% in the third quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock valued at $7,046,000 after buying an additional 131,589 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Portland General Electric by 205.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 52,620 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Portland General Electric in the fourth quarter valued at approximately $3,644,000. John G Ullman & Associates Inc. lifted its stake in Portland General Electric by 11.7% in the fourth quarter. John G Ullman & Associates Inc. now owns 144,400 shares of the utilities provider’s stock valued at $6,258,000 after buying an additional 15,150 shares during the last quarter. Finally, Scharf Investments LLC purchased a new stake in Portland General Electric in the fourth quarter valued at approximately $3,037,000.

Portland General Electric Trading Down 1.0 %

Shares of POR stock opened at $42.80 on Friday. The business’s fifty day moving average price is $41.37 and its 200 day moving average price is $41.51. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. The firm has a market capitalization of $4.33 billion, a PE ratio of 18.37 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. Portland General Electric’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, sell-side analysts forecast that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be issued a $0.50 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.67%. Portland General Electric’s dividend payout ratio is 81.55%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on POR shares. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Mizuho restated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Barclays cut their price target on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $45.13.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

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.