Teacher Retirement System of Texas lowered its holdings in shares of Portland General Electric (NYSE:POR – Get Rating) by 46.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,622 shares of the utilities provider’s stock after selling 14,610 shares during the period. Teacher Retirement System of Texas’ holdings in Portland General Electric were worth $814,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. lifted its holdings in shares of Portland General Electric by 308.8% during the 3rd quarter. Bessemer Group Inc. now owns 834 shares of the utilities provider’s stock valued at $36,000 after buying an additional 630 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Portland General Electric by 475.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 995 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 822 shares in the last quarter. Ronald Blue Trust Inc. lifted its holdings in shares of Portland General Electric by 78.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,547 shares of the utilities provider’s stock valued at $67,000 after buying an additional 681 shares during the period. CI Investments Inc. grew its stake in Portland General Electric by 54.6% in the 4th quarter. CI Investments Inc. now owns 1,435 shares of the utilities provider’s stock valued at $70,000 after acquiring an additional 507 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Portland General Electric by 145.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,908 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,130 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Credit Suisse Group lifted their price objective on shares of Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. JPMorgan Chase & Co. began coverage on Portland General Electric in a research note on Monday, May 8th. They issued an “overweight” rating and a $56.00 price objective for the company. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Bank of America raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $47.00 to $52.00 in a report on Tuesday, March 14th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.57.
Insider Buying and Selling
In other Portland General Electric news, VP John Teeruk Kochavatr sold 3,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $51.12, for a total value of $153,360.00. Following the sale, the vice president now directly owns 15,489 shares in the company, valued at $791,797.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.51% of the stock is owned by insiders.
Portland General Electric Stock Down 0.4 %
POR opened at $49.54 on Monday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.19 and a beta of 0.58. Portland General Electric has a fifty-two week low of $41.58 and a fifty-two week high of $56.37. The company has a fifty day moving average of $49.98 and a two-hundred day moving average of $48.75. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.89 and a current ratio of 1.02.
Portland General Electric (NYSE:POR – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $622.50 million. Portland General Electric had a net margin of 8.88% and a return on equity of 9.06%. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, research analysts expect that Portland General Electric will post 2.68 earnings per share for the current year.
Portland General Electric Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Monday, June 26th will be given a $0.475 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 23rd. This represents a $1.90 dividend on an annualized basis and a yield of 3.84%. Portland General Electric’s dividend payout ratio is presently 66.30%.
Portland General Electric Profile
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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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.
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