New York State Teachers Retirement System Raises Stock Position in Portland General Electric (NYSE:POR)

New York State Teachers Retirement System raised its stake in Portland General Electric (NYSE:POR) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,761 shares of the utilities provider’s stock after buying an additional 3,400 shares during the period. New York State Teachers Retirement System’s holdings in Portland General Electric were worth $1,030,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in Portland General Electric by 181.8% in the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after buying an additional 409 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Portland General Electric in the third quarter valued at about $32,000. BKM Wealth Management LLC purchased a new position in Portland General Electric in the fourth quarter valued at about $33,000. Allworth Financial LP increased 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 buying an additional 261 shares in the last quarter. Finally, IMA Wealth Inc. grew its position in shares of Portland General Electric by 100.0% in the second quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 393 shares during the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Portland General Electric Stock Up 1.1 %

Shares of NYSE POR opened at $40.98 on Thursday. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The firm’s 50 day moving average price is $40.96 and its 200 day moving average price is $41.37. The firm has a market cap of $4.15 billion, a P/E ratio of 17.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The company had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. As a group, sell-side analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date was Thursday, March 21st. Portland General Electric’s dividend payout ratio is currently 81.55%.

Analyst Ratings Changes

POR has been the topic of several research reports. Mizuho reiterated a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price target for the company from $47.00 to $45.00 in a research report on Monday, January 29th. Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. Barclays lowered their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Finally, StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.13.

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.