New York State Common Retirement Fund Acquires 35,330 Shares of Portland General Electric (NYSE:POR)

New York State Common Retirement Fund raised its holdings in Portland General Electric (NYSE:POR) by 8.2% during the 4th quarter, HoldingsChannel reports. 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’s holdings in Portland General Electric were worth $20,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp increased its holdings in Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the period. Geode Capital Management LLC grew its holdings in shares of Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after purchasing an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its holdings in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Portland General Electric by 4.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after purchasing an additional 51,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after purchasing an additional 13,720 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on POR. Barclays lowered their target price on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. KeyCorp lowered their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Finally, Evercore ISI increased their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Stock Up 1.3 %

Shares of NYSE:POR opened at $44.36 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12 month low of $39.49 and a 12 month high of $49.85. The firm has a market cap of $4.85 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 0.61. The company’s 50-day moving average price is $42.39 and its two-hundred day moving average price is $45.59.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the company posted $0.67 EPS. As a group, research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

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

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.