Charles Schwab Investment Management Inc. grew its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,313,282 shares of the utilities provider's stock after acquiring an additional 35,216 shares during the period. Charles Schwab Investment Management Inc. owned about 1.25% of Portland General Electric worth $57,285,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of POR. GSA Capital Partners LLP lifted its position in shares of Portland General Electric by 117.8% during the 3rd quarter. GSA Capital Partners LLP now owns 16,294 shares of the utilities provider's stock valued at $780,000 after acquiring an additional 8,814 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Portland General Electric by 27.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,991 shares of the utilities provider's stock worth $335,000 after purchasing an additional 1,486 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Portland General Electric by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 318,491 shares of the utilities provider's stock worth $15,256,000 after purchasing an additional 6,178 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Portland General Electric by 72.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider's stock worth $60,346,000 after purchasing an additional 530,020 shares during the last quarter. Finally, Swiss National Bank grew its stake in Portland General Electric by 1.0% in the 3rd quarter. Swiss National Bank now owns 201,200 shares of the utilities provider's stock worth $9,637,000 after acquiring an additional 2,000 shares during the period.
Insider Activity at Portland General Electric
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 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 represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.40% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on POR. KeyCorp lowered their target price on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research report on Tuesday, December 24th. LADENBURG THALM/SH SH lowered 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. Finally, UBS Group reissued a "neutral" rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $47.00.
Get Our Latest Stock Report on Portland General Electric
Portland General Electric Stock Performance
POR traded up $0.63 during trading on Friday, reaching $44.94. 1,758,350 shares of the company were exchanged, compared to its average volume of 1,173,766. The stock has a market cap of $4.92 billion, a P/E ratio of 14.93, a PEG ratio of 1.11 and a beta of 0.55. The firm has a 50 day moving average of $42.58 and a 200 day moving average of $45.34. 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 52 week low of $40.05 and a 52 week high of $49.85.
Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.
Portland General Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid 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 yield of 4.45%. Portland General Electric's dividend payout ratio is currently 66.45%.
Portland General Electric Company Profile
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Free Report)
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.
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