Portland General Electric (NYSE:POR) Stock Position Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Portland General Electric (NYSE:POR) by 8.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 463,811 shares of the utilities provider’s stock after purchasing an additional 35,330 shares during the period. New York State Common Retirement Fund owned about 0.44% of Portland General Electric worth $20,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empower Advisory Group LLC grew its position in Portland General Electric by 3.0% during the fourth quarter. Empower Advisory Group LLC now owns 643,550 shares of the utilities provider’s stock valued at $28,072,000 after purchasing an additional 18,473 shares in the last quarter. Truist Financial Corp grew its position in Portland General Electric by 5.7% during the fourth quarter. Truist Financial Corp now owns 99,489 shares of the utilities provider’s stock valued at $4,340,000 after purchasing an additional 5,406 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Portland General Electric by 2.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 44,749 shares of the utilities provider’s stock valued at $1,952,000 after purchasing an additional 1,254 shares in the last quarter. Principal Securities Inc. grew its position in Portland General Electric by 23.9% during the fourth quarter. Principal Securities Inc. now owns 6,518 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in Portland General Electric by 8.7% during the fourth quarter. Congress Asset Management Co. now owns 132,527 shares of the utilities provider’s stock valued at $5,781,000 after purchasing an additional 10,644 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on POR shares. UBS Group reissued a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Jefferies Financial Group decreased their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Finally, Barclays decreased their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.44.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $44.36 on Friday. The firm has a fifty day simple moving average of $42.39 and a 200-day simple moving average of $45.59. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. Portland General Electric has a 1-year low of $39.49 and a 1-year high of $49.85. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.11 and a beta of 0.61.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the previous year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is currently 66.45%.

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.