M&T Bank Corp Increases Holdings in Portland General Electric (NYSE:POR)

M&T Bank Corp lifted its position in Portland General Electric (NYSE:PORGet Rating) by 273.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,612 shares of the utilities provider’s stock after purchasing an additional 13,623 shares during the quarter. M&T Bank Corp’s holdings in Portland General Electric were worth $272,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in shares of Portland General Electric by 2.6% in the first quarter. New York State Teachers Retirement System now owns 7,900 shares of the utilities provider’s stock worth $436,000 after purchasing an additional 200 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Portland General Electric by 6.4% in the first quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 264 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Portland General Electric by 26.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,373 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 285 shares during the last quarter. Horizon Investment Services LLC raised its stake in shares of Portland General Electric by 7.1% in the first quarter. Horizon Investment Services LLC now owns 4,417 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 294 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Portland General Electric by 3.7% in the first quarter. Cetera Investment Advisers now owns 9,961 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 355 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Portland General Electric Stock Up 1.3 %

Portland General Electric stock opened at $46.33 on Wednesday. The stock has a market capitalization of $4.14 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 3.02 and a beta of 0.57. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $57.03. The business has a 50 day simple moving average of $46.25 and a 200-day simple moving average of $48.56. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.76 and a quick ratio of 0.67.

Portland General Electric (NYSE:PORGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $636.61 million. Portland General Electric had a return on equity of 9.09% and a net margin of 9.66%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. On average, analysts anticipate that Portland General Electric will post 2.84 EPS for the current fiscal year.

Portland General Electric Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, December 27th will be paid a $0.452 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Friday, December 23rd. Portland General Electric’s dividend payout ratio is presently 65.34%.

Analysts Set New Price Targets

POR has been the subject of several research analyst reports. Credit Suisse Group upgraded Portland General Electric from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $43.00 to $46.00 in a research note on Wednesday, October 26th. Mizuho reduced their price target on Portland General Electric from $51.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 7th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Monday, August 1st. Guggenheim reduced their price target on Portland General Electric from $56.00 to $48.00 in a research report on Monday, October 24th. Finally, TheStreet cut Portland General Electric from a “b” rating to a “c+” rating in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average price target of $48.57.

Portland General Electric Company Profile

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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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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