OLD Republic International Corp Makes New $22.46 Million Investment in Portland General Electric (NYSE:POR)

OLD Republic International Corp purchased a new stake in Portland General Electric (NYSE:POR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 515,000 shares of the utilities provider’s stock, valued at approximately $22,464,000.

A number of other hedge funds also recently made changes to their positions in POR. Newbridge Financial Services Group Inc. acquired a new stake in Portland General Electric in the 4th quarter valued at approximately $29,000. Allworth Financial LP grew its stake in shares of Portland General Electric by 74.4% in 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 in the last quarter. Versant Capital Management Inc increased its holdings in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. USA Financial Formulas bought a new stake in shares of Portland General Electric during the fourth quarter valued at about $71,000. Finally, International Assets Investment Management LLC lifted its holdings in Portland General Electric by 4,690.5% in the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,970 shares during the period.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Portland General Electric Stock Performance

POR opened at $44.36 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.85 billion, a PE ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 0.61. The business has a fifty day simple moving average of $42.39 and a 200-day simple moving average of $45.59. Portland General Electric has a fifty-two week low of $39.49 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter last year, the company posted $0.67 EPS. As a group, equities analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. Evercore ISI raised their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, Jefferies Financial Group dropped their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.44.

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.