Portland General Electric (NYSE:POR) Stock Holdings Increased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its holdings in Portland General Electric (NYSE:POR) by 16.7% during the fourth quarter, Holdings Channel reports. The firm owned 23,761 shares of the utilities provider’s stock after purchasing an additional 3,400 shares during the period. New York State Teachers Retirement System’s holdings in Portland General Electric were worth $1,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Portland General Electric by 309.9% in the 3rd quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock worth $7,046,000 after purchasing an additional 131,589 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $3,644,000. Scharf Investments LLC acquired a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $3,037,000. Versor Investments LP raised its holdings in shares of Portland General Electric by 55.2% during the third quarter. Versor Investments LP now owns 13,806 shares of the utilities provider’s stock valued at $559,000 after acquiring an additional 4,911 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Portland General Electric by 2.3% during the third quarter. Legal & General Group Plc now owns 624,905 shares of the utilities provider’s stock valued at $25,296,000 after acquiring an additional 13,952 shares during the period.

Portland General Electric Stock Performance

Shares of POR opened at $40.98 on Thursday. The company’s 50 day moving average price is $40.96 and its 200 day moving average price is $41.37. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $51.58. The company has a market capitalization of $4.15 billion, a PE ratio of 17.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The company had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Research analysts expect that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Thursday, March 21st. Portland General Electric’s dividend payout ratio is 81.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the company from $47.00 to $45.00 in a report on Monday, January 29th. Mizuho restated a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Barclays cut their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $43.00 in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.13.

Insiders Place Their Bets

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.