Jane Street Group LLC Raises Position in Portland General Electric (NYSE:POR)

Jane Street Group LLC boosted its holdings in Portland General Electric (NYSE:POR) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,323 shares of the utilities provider’s stock after acquiring an additional 2,833 shares during the quarter. Jane Street Group LLC owned 0.14% of Portland General Electric worth $7,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Portland General Electric by 7.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,694 shares of the utilities provider’s stock valued at $506,000 after acquiring an additional 784 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Portland General Electric by 6.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,313 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 631 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Portland General Electric in the 2nd quarter worth approximately $4,462,000. Blue Trust Inc. boosted its stake in 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. Finally, First Pacific Financial grew its position in Portland General Electric by 7.1% during the second quarter. First Pacific Financial now owns 11,984 shares of the utilities provider’s stock valued at $518,000 after acquiring an additional 794 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on POR shares. Barclays lowered their price objective on shares of 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. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. Finally, Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and an average price target of $49.13.

Portland General Electric Price Performance

Shares of POR stock opened at $44.48 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The firm 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 business’s 50 day moving average price is $47.09 and its 200-day moving average price is $46.28.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. During the same period in the previous year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.50%. Portland General Electric’s dividend payout ratio (DPR) is presently 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.