State of Alaska Department of Revenue Increases Stock Holdings in Portland General Electric (NYSE:POR)

State of Alaska Department of Revenue raised its position in Portland General Electric (NYSE:POR) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,011 shares of the utilities provider’s stock after acquiring an additional 810 shares during the quarter. State of Alaska Department of Revenue’s holdings in Portland General Electric were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of POR. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Portland General Electric in the second quarter valued at approximately $31,557,000. Marshall Wace LLP lifted its holdings in Portland General Electric by 657.0% during the 2nd quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock worth $13,607,000 after buying an additional 273,118 shares in the last quarter. Systematic Financial Management LP boosted its position in Portland General Electric by 83.4% in the 2nd quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after buying an additional 193,164 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Portland General Electric in the second quarter worth $7,459,000. Finally, Natixis Advisors LLC increased its position in shares of Portland General Electric by 91.7% during the second quarter. Natixis Advisors LLC now owns 312,313 shares of the utilities provider’s stock worth $13,505,000 after acquiring an additional 149,429 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on POR. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 target price for the company. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Bank of America began coverage on shares of Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.13.

Insider Transactions at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 1.5 %

Shares of Portland General Electric stock opened at $46.49 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $47.74 and a 200-day simple moving average of $45.79. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.18 and a beta of 0.59. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Portland General Electric’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. Portland General Electric’s dividend payout ratio (DPR) is 59.70%.

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.