State of New Jersey Common Pension Fund D Sells 25,930 Shares of Portland General Electric (NYSE:POR)

State of New Jersey Common Pension Fund D lessened its stake in Portland General Electric (NYSE:POR) by 37.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,495 shares of the utilities provider’s stock after selling 25,930 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Portland General Electric were worth $1,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Portland General Electric by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 11,146,037 shares of the utilities provider’s stock valued at $483,069,000 after acquiring an additional 212,981 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Portland General Electric by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after acquiring an additional 140,151 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Portland General Electric by 24.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after acquiring an additional 249,350 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Portland General Electric by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider’s stock worth $46,561,000 after acquiring an additional 69,392 shares during the period.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction 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 transaction, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares in the company, valued at $1,446,816. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,486 shares of company stock worth $262,153. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Stock Performance

POR stock opened at $47.70 on Monday. The company has a market cap of $4.91 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.59. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $49.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86. The stock’s fifty day moving average price is $47.37 and its 200-day moving average price is $44.38.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 26th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $716.43 million. Portland General Electric had a return on equity of 9.15% and a net margin of 9.24%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, equities analysts forecast that Portland General Electric will post 3.09 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, October 15th. Investors of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a yield of 4.19%. Portland General Electric’s dividend payout ratio (DPR) is presently 76.63%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Portland General Electric in a report on Friday. They set a “hold” rating and a $48.00 target price on the stock. Barclays downgraded Portland General Electric from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $48.00 to $49.00 in a research note on Wednesday, September 18th. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. Finally, KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.88.

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.