IFM Investors Pty Ltd Acquires 697 Shares of Portland General Electric (NYSE:POR)

IFM Investors Pty Ltd lifted its holdings in shares of Portland General Electric (NYSE:POR) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,638 shares of the utilities provider’s stock after purchasing an additional 697 shares during the period. IFM Investors Pty Ltd’s holdings in Portland General Electric were worth $591,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of Portland General Electric during the fourth quarter worth $33,000. IMA Wealth Inc. grew its holdings in shares of Portland General Electric by 100.0% during the second quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 393 shares during the last quarter. Spirit of America Management Corp NY bought a new position in Portland General Electric in the third quarter valued at about $32,000. C M Bidwell & Associates Ltd. bought a new position in Portland General Electric in the second quarter valued at about $39,000. Finally, Allworth Financial LP boosted its holdings in Portland General Electric by 44.0% in the third quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 261 shares during the last quarter.

Portland General Electric Stock Down 0.4 %

Shares of Portland General Electric stock opened at $40.73 on Friday. The business’s 50 day simple moving average is $40.76 and its 200 day simple moving average is $41.61. Portland General Electric has a 52-week low of $38.01 and a 52-week high of $51.58. The firm has a market cap of $4.12 billion, a PE ratio of 17.48, a P/E/G ratio of 2.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). The firm had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. On average, analysts predict that Portland General Electric will post 3.06 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, March 21st. This represents a $1.90 annualized dividend and a dividend yield of 4.66%. Portland General Electric’s dividend payout ratio is currently 81.55%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and decreased their price target for the company from $47.00 to $45.00 in a report on Monday, January 29th. Barclays reduced their target price on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $43.00 in a report on Monday, February 5th. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Mizuho restated a “neutral” rating and set a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus target price of $45.13.

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.