CoreFirst Bank & Trust Acquires New Holdings in Portland General Electric (NYSE:POR)

CoreFirst Bank & Trust bought a new position in Portland General Electric (NYSE:POR) in the 4th quarter, HoldingsChannel reports. The fund bought 4,165 shares of the utilities provider’s stock, valued at approximately $182,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider’s stock worth $1,305,000 after acquiring an additional 245 shares during the period. Choreo LLC boosted its position in shares of Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 371 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Portland General Electric by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 458 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of Portland General Electric by 5.8% in the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares in the last quarter.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction 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 completion of the sale, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Portland General Electric Stock Down 0.7 %

Shares of Portland General Electric stock opened at $43.44 on Tuesday. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The company has a market cap of $4.76 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $42.86 and a 200 day moving average price of $45.15.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.67 earnings per share. As a group, analysts expect that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 66.45%.

Analysts Set New Price Targets

POR has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. UBS Group restated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. KeyCorp cut their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Barclays increased their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Evercore ISI boosted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus price target of $47.00.

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.