Portland General Electric (NYSE:POR) Shares Bought by Xponance Inc.

Xponance Inc. raised its holdings in Portland General Electric (NYSE:POR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,629 shares of the utilities provider’s stock after purchasing an additional 282 shares during the period. Xponance Inc.’s holdings in Portland General Electric were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of Portland General Electric by 44.0% in the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 261 shares in the last quarter. Strs Ohio raised its position in shares of Portland General Electric by 3.3% during the 4th quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 300 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Portland General Electric by 7.7% during the third quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock worth $185,000 after purchasing an additional 325 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Portland General Electric by 1.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,353 shares of the utilities provider’s stock worth $1,148,000 after purchasing an additional 400 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Portland General Electric by 1.7% in the third quarter. State of Michigan Retirement System now owns 24,200 shares of the utilities provider’s stock worth $980,000 after purchasing an additional 400 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on POR shares. Barclays reduced their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Mizuho restated a “neutral” rating and set a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.13.

Portland General Electric Stock Performance

POR stock opened at $42.80 on Friday. The company has a market capitalization of $4.33 billion, a P/E ratio of 18.37 and a beta of 0.57. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $41.37 and a 200 day simple moving average of $41.51. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $51.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.24. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. During the same period in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Friday, June 21st. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is currently 81.55%.

Insider Activity

In related news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the transaction, the chief operating officer now directly owns 31,950 shares of the company’s stock, valued at $1,297,170. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

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.