Portland General Electric (NYSE:POR) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in Portland General Electric (NYSE:POR) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 503,943 shares of the utilities provider’s stock after buying an additional 6,207 shares during the quarter. California Public Employees Retirement System’s holdings in Portland General Electric were worth $21,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 261 shares in the last quarter. Xponance Inc. lifted its stake in Portland General Electric by 2.0% in the fourth quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock valued at $634,000 after buying an additional 282 shares during the last quarter. Strs Ohio lifted its stake in Portland General Electric by 3.3% in the fourth quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Portland General Electric by 7.7% in the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock valued at $185,000 after buying an additional 325 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Portland General Electric by 1.7% in the third quarter. State of Michigan Retirement System now owns 24,200 shares of the utilities provider’s stock valued at $980,000 after buying an additional 400 shares during the last quarter.

Portland General Electric Trading Down 1.0 %

NYSE:POR opened at $42.80 on Monday. The stock has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $41.50. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 16.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. Portland General Electric’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be given a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.67%. Portland General Electric’s dividend payout ratio is presently 72.80%.

Wall Street Analyst Weigh In

POR has been the subject of a number of research reports. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $43.00 in a research note on Monday, February 5th. Mizuho reiterated a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays reduced their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and cut their price target for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently 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 company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.