M&T Bank Corp Has $784,000 Stock Holdings in Portland General Electric (NYSE:POR)

M&T Bank Corp trimmed its position in Portland General Electric (NYSE:POR) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,039 shares of the utilities provider’s stock after selling 903 shares during the quarter. M&T Bank Corp’s holdings in Portland General Electric were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in POR. Wellington Management Group LLP grew its holdings in shares of Portland General Electric by 21.8% during the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after purchasing an additional 1,087,996 shares in the last quarter. State Street Corp grew its holdings in shares of Portland General Electric by 37.2% during the 2nd quarter. State Street Corp now owns 3,339,567 shares of the utilities provider’s stock worth $162,473,000 after purchasing an additional 905,308 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Portland General Electric by 927.0% during the 4th quarter. Millennium Management LLC now owns 970,767 shares of the utilities provider’s stock worth $47,568,000 after purchasing an additional 876,246 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Portland General Electric by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,268,761 shares of the utilities provider’s stock worth $489,739,000 after purchasing an additional 848,958 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Portland General Electric by 18.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,269,606 shares of the utilities provider’s stock worth $209,211,000 after purchasing an additional 663,996 shares in the last quarter.

Insider Transactions at Portland General Electric

In other news, VP Anne Frances Mersereau sold 10,891 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $44.16, for a total transaction of $480,946.56. Following the completion of the transaction, the vice president now directly owns 7,071 shares in the company, valued at $312,255.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

POR has been the topic of several analyst reports. Barclays initiated coverage on Portland General Electric in a report on Wednesday, August 23rd. They set an “equal weight” rating and a $43.00 target price on the stock. Guggenheim upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, August 18th. 58.com restated a “downgrade” rating on shares of Portland General Electric in a research report on Tuesday, June 20th. JPMorgan Chase & Co. began coverage on Portland General Electric in a research report on Monday, May 8th. They set an “overweight” rating and a $56.00 price objective for the company. Finally, UBS Group began coverage on Portland General Electric in a research report on Tuesday, August 22nd. They set a “neutral” rating and a $46.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.25.

Portland General Electric Price Performance

Portland General Electric stock opened at $43.99 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.45 billion, a PE ratio of 18.33, a P/E/G ratio of 2.75 and a beta of 0.55. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $53.12. The stock has a 50-day moving average price of $46.36 and a two-hundred day moving average price of $48.07.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $648.00 million during the quarter, compared to the consensus estimate of $571.82 million. Portland General Electric had a net margin of 7.82% and a return on equity of 8.03%. Portland General Electric’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. Analysts expect that Portland General Electric will post 2.67 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 25th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.32%. Portland General Electric’s dividend payout ratio (DPR) is 79.17%.

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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.