Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,654 Shares of Portland General Electric (NYSE:POR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Portland General Electric (NYSE:POR) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,343 shares of the utilities provider’s stock after purchasing an additional 1,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Portland General Electric were worth $1,062,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its stake in Portland General Electric by 27.0% in the third quarter. OneDigital Investment Advisors LLC now owns 6,991 shares of the utilities provider’s stock valued at $335,000 after buying an additional 1,486 shares during the period. Natixis Advisors LLC raised its position in shares of Portland General Electric by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 318,491 shares of the utilities provider’s stock valued at $15,256,000 after acquiring an additional 6,178 shares during the period. Swiss National Bank raised its position in shares of Portland General Electric by 1.0% in the 3rd quarter. Swiss National Bank now owns 201,200 shares of the utilities provider’s stock valued at $9,637,000 after acquiring an additional 2,000 shares during the period. Quest Partners LLC boosted its stake in Portland General Electric by 821.4% during the 3rd quarter. Quest Partners LLC now owns 8,551 shares of the utilities provider’s stock worth $410,000 after acquiring an additional 7,623 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in Portland General Electric by 12.2% during the third quarter. Pathstone Holdings LLC now owns 29,632 shares of the utilities provider’s stock valued at $1,421,000 after purchasing an additional 3,232 shares during the period.

Analyst Ratings Changes

POR has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, February 18th. Finally, Bank of America lowered their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $47.00.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Down 0.6 %

NYSE:POR opened at $44.29 on Thursday. The stock has a 50-day simple moving average of $42.71 and a 200 day simple moving average of $45.27. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The company has a market cap of $4.85 billion, a PE ratio of 14.71, a PEG ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

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

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. Portland General Electric’s dividend payout ratio is 66.45%.

Portland General Electric Company 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.