Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 4,304 Shares of Portland General Electric (NYSE:POR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Portland General Electric (NYSE:POR) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 196,923 shares of the utilities provider’s stock after buying an additional 4,304 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Portland General Electric were worth $8,590,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of POR. Newbridge Financial Services Group Inc. bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $29,000. Versant Capital Management Inc boosted its holdings 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 worth $33,000 after buying an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after buying an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,096 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $71,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. 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 report on Wednesday, December 4th. Evercore ISI increased their target price on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Bank of America cut their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Tuesday, February 18th. Finally, Barclays increased their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One equities 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.00.

Portland General Electric Trading Down 1.4 %

NYSE POR opened at $43.73 on Friday. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market capitalization of $4.79 billion, a P/E ratio of 14.53, a PEG ratio of 1.11 and a beta of 0.55. The business has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $45.23. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the firm posted $0.67 EPS. On average, analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

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.