Meeder Asset Management Inc. Purchases New Holdings in Portland General Electric Company (NYSE:POR)

Meeder Asset Management Inc. purchased a new stake in Portland General Electric Company (NYSE:POR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,545 shares of the utilities provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV boosted its stake in Portland General Electric by 29.3% in the first quarter. KBC Group NV now owns 4,717 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 1,068 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Portland General Electric by 17.5% during the first quarter. New York State Teachers Retirement System now owns 39,793 shares of the utilities provider’s stock valued at $1,775,000 after purchasing an additional 5,927 shares during the period. Blair William & Co. IL grew its holdings in Portland General Electric by 13.2% during the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 692 shares during the period. M&T Bank Corp grew its holdings in Portland General Electric by 21.9% during the first quarter. M&T Bank Corp now owns 19,691 shares of the utilities provider’s stock valued at $878,000 after purchasing an additional 3,538 shares during the period. Finally, American Century Companies Inc. raised its holdings in Portland General Electric by 3.7% in the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock worth $6,166,000 after purchasing an additional 5,084 shares during the period.

Portland General Electric Trading Up 0.8%

Shares of NYSE:POR opened at $41.28 on Wednesday. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $49.85. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $41.04 and its 200 day simple moving average is $42.14. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 3.81 and a beta of 0.56.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Portland General Electric had a net margin of 8.43% and a return on equity of 8.07%. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $797.97 million. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.09%. Portland General Electric’s payout ratio is 77.49%.

Insider Activity at Portland General Electric

In other Portland General Electric news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction on Monday, July 21st. The shares were sold at an average price of $40.10, for a total value of $77,673.70. Following the sale, the director directly owned 13,509 shares in the company, valued at approximately $541,710.90. The trade was a 12.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of Portland General Electric from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. Evercore ISI cut their target price on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company cut their target price on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and a consensus price target of $45.40.

Portland General Electric 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.