Portland General Electric (NYSE:POR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in Portland General Electric (NYSE:POR) by 38.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,888 shares of the utilities provider’s stock after selling 1,819 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Portland General Electric were worth $138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric in the third quarter valued at approximately $25,000. Allworth Financial LP grew its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Portland General Electric during the second quarter worth $33,000. Blue Trust Inc. raised its stake in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Portland General Electric in the second quarter valued at $40,000.

Portland General Electric Trading Up 0.3 %

NYSE:POR opened at $44.03 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The stock’s 50 day moving average price is $46.88 and its 200 day moving average price is $46.29. The company has a market capitalization of $4.64 billion, a PE ratio of 13.14, a P/E/G ratio of 1.13 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. On average, research analysts anticipate that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. Portland General Electric’s dividend payout ratio (DPR) is presently 59.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. KeyCorp cut 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 research note on Wednesday, December 4th. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays dropped their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $49.13.

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.