Portland General Electric (NYSE:POR) Holdings Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in Portland General Electric (NYSE:POR) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 2,665,276 shares of the utilities provider’s stock after selling 24,072 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Portland General Electric were worth $116,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in POR. Trexquant Investment LP lifted its position in Portland General Electric by 2,249.6% in the fourth quarter. Trexquant Investment LP now owns 168,751 shares of the utilities provider’s stock worth $7,361,000 after purchasing an additional 161,569 shares during the period. Geode Capital Management LLC boosted its stake in Portland General Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock valued at $108,710,000 after buying an additional 47,172 shares in the last quarter. Brandywine Global Investment Management LLC grew its holdings in Portland General Electric by 1,510.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider’s stock worth $15,665,000 after acquiring an additional 336,823 shares during the period. California Public Employees Retirement System raised its position in Portland General Electric by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 463,792 shares of the utilities provider’s stock worth $20,231,000 after acquiring an additional 6,602 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Portland General Electric during the 4th quarter valued at about $811,000.

Insider Activity at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on POR shares. Bank of America cut their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Barclays increased their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI increased their price target on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Trading Down 3.6 %

Shares of NYSE POR opened at $42.69 on Friday. 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 has a one year low of $40.05 and a one year high of $49.85. The business has a 50-day moving average price of $43.28 and a two-hundred day moving average price of $44.92. The firm has a market capitalization of $4.68 billion, a PE ratio of 14.18, a PEG ratio of 1.11 and a beta of 0.55.

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 for 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 period in the previous year, the firm posted $0.67 earnings per share. As a group, analysts predict that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. Portland General Electric’s dividend payout ratio is 66.45%.

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.