Versor Investments LP Has $1.51 Million Stock Position in Portland General Electric (NYSE:POR)

Versor Investments LP grew its position in shares of Portland General Electric (NYSE:POR) by 28.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,468 shares of the utilities provider’s stock after purchasing an additional 7,062 shares during the quarter. Versor Investments LP’s holdings in Portland General Electric were worth $1,507,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of POR. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric during the third quarter valued at about $25,000. LRI Investments LLC bought a new stake in Portland General Electric in the 1st quarter worth about $26,000. Massmutual Trust Co. FSB ADV increased its position in shares of Portland General Electric by 767.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. Allworth Financial LP increased its position in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Portland General Electric in the second quarter worth about $33,000.

Portland General Electric Stock Performance

Shares of POR stock traded up $0.47 on Monday, reaching $47.49. The stock had a trading volume of 45,135 shares, compared to its average volume of 952,281. The stock has a market cap of $5.01 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59. 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 1 year low of $39.13 and a 1 year high of $49.85. The company has a 50 day simple moving average of $47.71 and a 200 day simple moving average of $45.84.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. During the same period in the previous year, the business earned $0.46 earnings per share. Portland General Electric’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts expect that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insider Buying and Selling at Portland General Electric

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on POR. Evercore ISI began coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $48.86.

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.