Portland General Electric Company (NYSE:POR) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in Portland General Electric Company (NYSE:POR) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,249 shares of the utilities provider’s stock after acquiring an additional 337 shares during the period. Arizona State Retirement System’s holdings in Portland General Electric were worth $1,349,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of POR. Xponance Inc. grew its holdings in shares of Portland General Electric by 2.3% during the first quarter. Xponance Inc. now owns 15,163 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 339 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Portland General Electric by 4.8% during the first quarter. State of Michigan Retirement System now owns 26,200 shares of the utilities provider’s stock worth $1,169,000 after buying an additional 1,200 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Portland General Electric by 88.5% during the first quarter. Cerity Partners LLC now owns 85,895 shares of the utilities provider’s stock worth $3,831,000 after buying an additional 40,329 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Portland General Electric by 7.7% during the first quarter. Alps Advisors Inc. now owns 28,890 shares of the utilities provider’s stock worth $1,288,000 after buying an additional 2,074 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in Portland General Electric by 24.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 22,700 shares of the utilities provider’s stock valued at $1,012,000 after purchasing an additional 4,500 shares in the last quarter.

Portland General Electric Trading Down 0.5%

Portland General Electric stock opened at $40.02 on Friday. The company has a 50 day moving average price of $41.25 and a 200 day moving average price of $42.23. Portland General Electric Company has a 52 week low of $39.55 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 3.72 and a beta of 0.56.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th were paid a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 5.25%. Portland General Electric’s dividend payout ratio (DPR) is presently 73.94%.

Wall Street Analyst Weigh In

POR has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Barclays decreased their price target on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. KeyCorp cut shares of Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 price target for the company. in a research report on Wednesday, May 14th. Evercore ISI decreased their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.60.

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.