California Public Employees Retirement System Increases Stake in Portland General Electric (NYSE:POR)

California Public Employees Retirement System grew its position in Portland General Electric (NYSE:POR) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 503,943 shares of the utilities provider’s stock after acquiring an additional 6,207 shares during the quarter. California Public Employees Retirement System owned about 0.50% of Portland General Electric worth $21,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank raised its stake in shares of Portland General Electric by 309.9% in the third quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock valued at $7,046,000 after acquiring an additional 131,589 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Portland General Electric by 205.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock worth $3,338,000 after purchasing an additional 52,620 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Portland General Electric in the fourth quarter worth about $3,644,000. John G Ullman & Associates Inc. grew its holdings 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 worth $6,258,000 after purchasing an additional 15,150 shares during the last quarter. Finally, Scharf Investments LLC bought a new position in shares of Portland General Electric in the fourth quarter worth about $3,037,000.

Analyst Ratings Changes

A number of research firms have recently commented on POR. Mizuho restated a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Bank of America cut shares of 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 report on Monday, February 5th. Barclays cut 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 report on Wednesday, February 21st. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $47.00 to $45.00 in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.13.

Portland General Electric Stock Down 1.0 %

NYSE:POR opened at $42.80 on Monday. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58. The stock has a market capitalization of $4.33 billion, a P/E ratio of 16.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The company’s 50-day simple moving average is $41.37 and its 200-day simple moving average is $41.50.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating 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 business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $828.94 million. During the same period last year, the business earned $0.80 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities analysts anticipate that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be issued a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Friday, June 21st. Portland General Electric’s dividend payout ratio (DPR) is currently 72.80%.

Insider Activity

In related 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 value of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

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.