Texas Permanent School Fund Trims Stake in Portland General Electric (NYSE:POR)

Texas Permanent School Fund reduced its stake in shares of Portland General Electric (NYSE:PORGet Rating) by 0.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,185 shares of the utilities provider’s stock after selling 304 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Portland General Electric worth $2,789,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Portland General Electric by 10.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 253,550 shares of the utilities provider’s stock worth $12,249,000 after acquiring an additional 24,036 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Portland General Electric by 20.8% during the 2nd quarter. Park Avenue Securities LLC now owns 9,437 shares of the utilities provider’s stock worth $456,000 after acquiring an additional 1,624 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Portland General Electric by 50.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 70,636 shares of the utilities provider’s stock worth $3,414,000 after acquiring an additional 23,660 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Portland General Electric by 8.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 412,686 shares of the utilities provider’s stock worth $19,946,000 after acquiring an additional 31,161 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Portland General Electric during the 2nd quarter worth $56,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on POR shares. Guggenheim dropped their price objective on shares of Portland General Electric from $56.00 to $48.00 in a report on Monday, October 24th. Wells Fargo & Company boosted their price target on shares of Portland General Electric to $53.00 in a research note on Wednesday, December 14th. TheStreet downgraded shares of Portland General Electric from a “b” rating to a “c+” rating in a research note on Wednesday, October 26th. StockNews.com raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, December 6th. Finally, Mizuho lowered their price target on shares of Portland General Electric from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, October 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.29.

Portland General Electric Price Performance

POR stock opened at $49.23 on Friday. The firm’s 50-day moving average price is $47.70 and its two-hundred day moving average price is $48.73. Portland General Electric has a 12-month low of $41.58 and a 12-month high of $57.03. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.31 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.67 and a debt-to-equity ratio of 1.30.

Portland General Electric (NYSE:PORGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Portland General Electric had a net margin of 9.66% and a return on equity of 9.09%. The firm had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $636.61 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 2.84 earnings per share for the current year.

Portland General Electric Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be issued a $0.452 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, December 23rd. Portland General Electric’s dividend payout ratio (DPR) is presently 65.34%.

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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