California Public Employees Retirement System Purchases 6,602 Shares of Portland General Electric (NYSE:POR)

California Public Employees Retirement System raised its holdings in Portland General Electric (NYSE:POR - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 463,792 shares of the utilities provider's stock after buying an additional 6,602 shares during the period. California Public Employees Retirement System owned about 0.44% of Portland General Electric worth $20,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in POR. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric in the 4th quarter valued at $29,000. Versant Capital Management Inc raised its holdings in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Portland General Electric by 352.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Portland General Electric in the 4th quarter worth about $71,000.

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Insider Buying and Selling

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

Portland General Electric stock traded up $1.08 during mid-day trading on Tuesday, reaching $42.66. The company's stock had a trading volume of 310,629 shares, compared to its average volume of 1,191,306. The firm's fifty day moving average price is $43.26 and its two-hundred day moving average price is $44.82. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a market capitalization of $4.67 billion, a P/E ratio of 14.17, a PEG ratio of 1.11 and a beta of 0.49.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same period in the previous year, the business earned $0.67 earnings per share. Sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.69%. Portland General Electric's dividend payout ratio (DPR) is currently 66.45%.

Wall Street Analyst Weigh In

A number of analysts recently commented on POR shares. Jefferies Financial Group dropped their price target on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Bank of America lowered their target price on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. UBS Group restated 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. StockNews.com lowered shares of Portland General Electric from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Finally, 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 report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $47.00.

Portland General Electric Company 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.