Portland General Electric (NYSE:POR) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Portland General Electric (NYSE:POR) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,011 shares of the utilities provider’s stock after purchasing an additional 810 shares during the period. State of Alaska Department of Revenue’s holdings in Portland General Electric were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of POR. Massmutual Trust Co. FSB ADV boosted its holdings in Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock worth $25,000 after buying an additional 514 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric in the third quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in shares of Portland General Electric in the first quarter worth approximately $26,000. Allworth Financial LP increased its position in shares of Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Portland General Electric in the 2nd quarter valued at $33,000.

Portland General Electric Stock Performance

NYSE:POR opened at $46.49 on Friday. The company’s 50-day moving average is $47.74 and its two-hundred day moving average is $45.79. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.18 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. Analysts forecast that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is presently 59.70%.

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on POR. Bank of America started coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price objective for the company. Barclays cut their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Finally, Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.13.

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.