Portland General Electric (NYSE:POR) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Portland General Electric (NYSE:POR) by 384.1% during the fourth quarter, HoldingsChannel reports. The firm owned 321,763 shares of the utilities provider’s stock after buying an additional 255,292 shares during the period. New York State Common Retirement Fund’s holdings in Portland General Electric were worth $13,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in shares of Portland General Electric by 1.2% during the 4th quarter. California Public Employees Retirement System now owns 503,943 shares of the utilities provider’s stock valued at $21,841,000 after buying an additional 6,207 shares during the period. Duality Advisers LP purchased a new stake in shares of Portland General Electric during the fourth quarter valued at approximately $1,392,000. Signaturefd LLC lifted its position in shares of Portland General Electric by 59.6% during the fourth quarter. Signaturefd LLC now owns 2,073 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 774 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Portland General Electric during the fourth quarter worth $221,000. Finally, John G Ullman & Associates Inc. boosted its stake in shares of Portland General Electric by 11.7% in the fourth quarter. John G Ullman & Associates Inc. now owns 144,400 shares of the utilities provider’s stock valued at $6,258,000 after purchasing an additional 15,150 shares during the period.

Portland General Electric Price Performance

Shares of POR opened at $43.37 on Tuesday. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $51.58. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 16.62 and a beta of 0.57. The stock has a 50 day moving average of $41.42 and a 200-day moving average of $41.51.

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

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, June 21st. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s dividend payout ratio is currently 72.80%.

Analyst Ratings Changes

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

Insider Buying and Selling

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

Portland General Electric Company Profile

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.