Geode Capital Management LLC Acquires 47,172 Shares of Portland General Electric (NYSE:POR)

Geode Capital Management LLC boosted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,491,658 shares of the utilities provider's stock after purchasing an additional 47,172 shares during the period. Geode Capital Management LLC owned about 2.36% of Portland General Electric worth $108,710,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC boosted its position in Portland General Electric by 1,510.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock valued at $15,665,000 after buying an additional 336,823 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Portland General Electric by 1.4% in the 4th 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. Schroder Investment Management Group bought a new stake in Portland General Electric during the 4th quarter worth approximately $811,000. Level Four Advisory Services LLC increased its holdings in Portland General Electric by 14.5% during the 4th quarter. Level Four Advisory Services LLC now owns 39,151 shares of the utilities provider's stock valued at $1,708,000 after purchasing an additional 4,948 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Portland General Electric by 8.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,442 shares of the utilities provider's stock valued at $761,000 after purchasing an additional 1,343 shares during the last quarter.

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Insiders Place Their Bets

In related 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 completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on POR shares. 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. Jefferies Financial Group lowered their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Bank of America reduced their target price on shares of 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. Barclays raised their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.78.

Portland General Electric Trading Up 0.8 %

Shares of POR stock traded up $0.33 during trading hours on Tuesday, reaching $43.58. The company had a trading volume of 267,789 shares, compared to its average volume of 1,027,432. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a 50 day moving average of $43.38 and a 200 day moving average of $44.56.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million for 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 quarter last year, the business earned $0.67 earnings per share. On average, equities research analysts anticipate that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently announced 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. This represents a $2.00 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric's payout ratio is presently 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.