Leeward Investments LLC MA Purchases 79,052 Shares of Portland General Electric (NYSE:POR)

Leeward Investments LLC MA raised its position in shares of Portland General Electric (NYSE:POR) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 546,701 shares of the utilities provider’s stock after acquiring an additional 79,052 shares during the period. Portland General Electric makes up about 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 21st largest position. Leeward Investments LLC MA owned 0.54% of Portland General Electric worth $23,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of POR. Victory Capital Management Inc. increased its position in Portland General Electric by 69.3% during the third quarter. Victory Capital Management Inc. now owns 1,040,841 shares of the utilities provider’s stock valued at $42,133,000 after acquiring an additional 425,923 shares during the last quarter. New York State Common Retirement Fund increased its position in Portland General Electric by 384.1% during the fourth quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider’s stock valued at $13,945,000 after acquiring an additional 255,292 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Portland General Electric by 12.8% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock valued at $78,728,000 after acquiring an additional 220,674 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Portland General Electric during the third quarter valued at $8,339,000. Finally, Nordea Investment Management AB bought a new position in shares of Portland General Electric in the third quarter worth about $6,809,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America cut shares of 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 report on Monday, February 5th. UBS Group upgraded shares of 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 report on Monday, January 29th. Barclays cut their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Mizuho restated a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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 stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 1.0 %

NYSE:POR opened at $42.80 on Friday. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. The company has a 50-day moving average of $41.37 and a 200 day moving average of $41.51. The firm has a market cap 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 released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts anticipate that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

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

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.