Arrowstreet Capital Limited Partnership Has $9.64 Million Holdings in Portland General Electric Company $POR

Arrowstreet Capital Limited Partnership lifted its stake in shares of Portland General Electric Company (NYSE:POR) by 24.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,269 shares of the utilities provider’s stock after purchasing an additional 47,134 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Portland General Electric were worth $9,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its position in Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. S.A. Mason LLC acquired a new stake in shares of Portland General Electric in the 2nd quarter valued at $29,000. Bell Investment Advisors Inc raised its position in shares of Portland General Electric by 80.6% during the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 370 shares during the last quarter. Tompkins Financial Corp lifted its stake in shares of Portland General Electric by 83.3% during the second 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 period. Finally, Elevation Point Wealth Partners LLC bought a new position in Portland General Electric in the second quarter valued at about $51,000.

Portland General Electric Price Performance

POR opened at $48.23 on Wednesday. The stock has a market cap of $5.43 billion, a P/E ratio of 17.54, a P/E/G ratio of 4.42 and a beta of 0.67. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $51.14. The company has a quick ratio of 0.95, a current ratio of 1.08 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $47.04 and a 200 day simple moving average of $43.60.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, research analysts expect that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is 76.36%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on POR. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a research report on Monday, December 1st. Jefferies Financial Group increased their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. UBS Group reaffirmed a “neutral” rating and set a $51.00 target price on shares of Portland General Electric in a report on Wednesday, November 19th. BTIG Research upgraded shares of Portland General Electric to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company began coverage on Portland General Electric in a research report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $47.00.

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.