South Dakota Investment Council Increases Stock Position in Portland General Electric (NYSE:POR)

South Dakota Investment Council boosted its stake in Portland General Electric (NYSE:POR) by 88.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,581 shares of the utilities provider’s stock after acquiring an additional 21,900 shares during the period. South Dakota Investment Council’s holdings in Portland General Electric were worth $2,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric in the third quarter valued at $596,000. Nordea Investment Management AB lifted its position in Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. lifted its position in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares during the last quarter. Synergy Asset Management LLC lifted its position in Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after acquiring an additional 82,743 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after acquiring an additional 10,643 shares during the last quarter.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $44.36 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.85 billion, a P/E ratio of 14.74, a PEG ratio of 1.11 and a beta of 0.61. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85. The company has a 50-day moving average price of $42.39 and a 200 day moving average price of $45.59.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.67 earnings per share. Research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric’s payout ratio is currently 66.45%.

Analysts Set New Price Targets

POR has been the subject of a number of research reports. Barclays reduced their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Evercore ISI increased their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. UBS Group reiterated a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Finally, KeyCorp decreased their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.44.

Portland General Electric Profile

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.