Capital Fund Management S.A. Acquires 22,401 Shares of Portland General Electric Company $POR
Capital Fund Management S.A. increased its holdings in Portland General Electric Company by 26.5% in Q2, purchasing an additional 22,401 shares, now owning 106,906 shares valued at $4,344,000. Several other hedge funds also modified their holdings. CEO Maria M. Pope sold 18,896 shares. Analysts have mixed ratings on the stock, with a consensus price target of $46.92. Portland General Electric's recent earnings exceeded expectations with $1.00 EPS and $952 million in revenue.
Capital Fund Management S.A. raised its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 26.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,906 shares of the utilities provider's stock after purchasing an additional 22,401 shares during the period. Capital Fund Management S.A. owned approximately 0.10% of Portland General Electric worth $4,344,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Portland General Electric by 1,291.7% during the second quarter. IFP Advisors Inc now owns 668 shares of the utilities provider's stock valued at $27,000 after buying an additional 620 shares during the last quarter. S.A. Mason LLC bought a new position in Portland General Electric during the 2nd quarter valued at about $29,000. Bell Investment Advisors Inc boosted its holdings in shares of Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 370 shares during the last quarter. Tompkins Financial Corp boosted its holdings in shares of Portland General Electric by 83.3% during the 2nd quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 500 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Portland General Electric in the first quarter worth approximately $46,000.
Insider Buying and Selling at Portland General Electric
In related news, CEO Maria M. Pope sold 18,896 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the transaction, the chief executive officer owned 194,135 shares of the company's stock, valued at approximately $8,250,737.50. This represents a 8.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on POR shares. UBS Group reiterated a "neutral" rating and set a $51.00 price objective on shares of Portland General Electric in a research report on Wednesday, November 19th. Mizuho set a $47.00 price target on shares of Portland General Electric in a research report on Monday, November 3rd. Jefferies Financial Group increased their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the stock a "hold" rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Portland General Electric in a report on Tuesday, November 25th. Finally, Barclays boosted their target price on shares of Portland General Electric from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.92.
Get Our Latest Analysis on POR
Portland General Electric Trading Down 0.8%
Shares of NYSE:POR opened at $50.42 on Tuesday. The stock has a 50 day moving average of $46.40 and a 200 day moving average of $43.33. The company has a market cap of $5.67 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 4.18 and a beta of 0.67. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 1.28. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $51.14.
Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The company had revenue of $952.00 million for the quarter, compared to analysts' expectations of $975.64 million. During the same quarter last year, the business earned $0.90 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.
Portland General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, December 22nd. Portland General Electric's dividend payout ratio (DPR) is presently 76.36%.
About Portland General Electric
(Free Report)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.
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