Rockefeller Capital Management L.P. Decreases Stock Holdings in Portland General Electric (NYSE:POR)

Rockefeller Capital Management L.P. lessened its stake in shares of Portland General Electric (NYSE:POR) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,270 shares of the utilities provider’s stock after selling 1,163 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Portland General Electric were worth $539,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in POR. Allworth Financial LP boosted its holdings in 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 purchasing an additional 265 shares during the last quarter. First Pacific Financial boosted its stake in shares of Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after buying an additional 347 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. increased its position in Portland General Electric by 94.5% during 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 during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in Portland General Electric by 6.4% in the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after acquiring an additional 458 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on POR. Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays reduced their price objective on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. One equities 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 company. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $49.13.

Portland General Electric Price Performance

NYSE:POR opened at $45.84 on Tuesday. The business’s 50-day simple moving average is $47.27 and its two-hundred day simple moving average is $46.26. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The stock has a market cap of $4.83 billion, a PE ratio of 13.68, a P/E/G ratio of 1.17 and a beta of 0.59. 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 posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. As a group, analysts forecast that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. Portland General Electric’s dividend payout ratio is currently 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.