South Dakota Investment Council Grows Stock Holdings in Portland General Electric (NYSE:POR)

South Dakota Investment Council grew its holdings in Portland General Electric (NYSE:POR) by 88.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,581 shares of the utilities provider’s stock after purchasing an additional 21,900 shares during the quarter. South Dakota Investment Council’s holdings in Portland General Electric were worth $2,032,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Portland General Electric during the 4th quarter valued at approximately $29,000. Allworth Financial LP raised its position in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the period. Versant Capital Management Inc raised its position in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares during the period. USA Financial Formulas purchased a new stake in shares of Portland General Electric during the 4th quarter valued at approximately $71,000. Finally, International Assets Investment Management LLC raised its position in shares of Portland General Electric by 4,690.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,970 shares during the period.

Portland General Electric Stock Performance

NYSE:POR opened at $44.36 on Monday. The company has a fifty day simple moving average of $42.39 and a two-hundred day simple moving average of $45.59. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 52 week low of $39.49 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business 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 in the previous year, the firm posted $0.67 earnings per share. As a group, equities analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Wall Street Analysts Forecast Growth

POR has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. KeyCorp reduced their price target on shares of 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. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, Evercore ISI lifted their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $46.44.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.