Mutual of America Capital Management LLC Has $4.03 Million Position in Portland General Electric (NYSE:POR)

Mutual of America Capital Management LLC lowered its position in shares of Portland General Electric (NYSE:POR) by 4.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,201 shares of the utilities provider’s stock after selling 4,059 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Portland General Electric were worth $4,033,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value 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 trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on POR. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Barclays cut their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.86.

Portland General Electric Stock Performance

Shares of POR stock opened at $47.49 on Friday. The firm has a market cap of $5.01 billion, a PE ratio of 14.17, a P/E/G ratio of 1.20 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. The company’s fifty day simple moving average is $47.47 and its 200-day simple moving average is $46.01. 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 (NYSE:POR) last issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. Equities research analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued 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 yield of 4.21%. Portland General Electric’s payout ratio 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.