New York State Common Retirement Fund Purchases 26,343 Shares of Portland General Electric (NYSE:POR)

New York State Common Retirement Fund grew its position in shares of Portland General Electric (NYSE:POR - Free Report) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 428,481 shares of the utilities provider's stock after buying an additional 26,343 shares during the period. New York State Common Retirement Fund owned about 0.42% of Portland General Electric worth $20,524,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC bought a new position in Portland General Electric during the first quarter worth $519,000. BNP Paribas Financial Markets grew its position in shares of Portland General Electric by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 59,610 shares of the utilities provider's stock valued at $2,504,000 after buying an additional 5,428 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Portland General Electric by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 32,433 shares of the utilities provider's stock worth $1,362,000 after acquiring an additional 2,695 shares during the period. Fidelis Capital Partners LLC bought a new position in Portland General Electric in the first quarter worth about $77,000. Finally, Nordea Investment Management AB boosted its stake in Portland General Electric by 0.5% in the first quarter. Nordea Investment Management AB now owns 163,701 shares of the utilities provider's stock valued at $6,879,000 after acquiring an additional 796 shares during the period.

Insider Activity

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company's stock, valued at approximately $688,902.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP John Teeruk Kochavatr sold 1,100 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now owns 22,606 shares in the company, valued at $1,045,527.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Angelica Espinosa sold 2,500 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares of the company's stock, valued at $688,902.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. KeyCorp raised Portland General Electric from a "sector weight" rating to an "overweight" rating in a research note on Monday, July 22nd. Jefferies Financial Group initiated coverage on Portland General Electric in a research note on Friday, September 20th. They set a "hold" rating and a $48.00 price objective for the company. Barclays decreased their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. Finally, Evercore ISI began coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric has an average rating of "Hold" and an average price target of $48.13.

Portland General Electric Stock Up 1.3 %

Shares of Portland General Electric stock traded up $0.58 during trading on Tuesday, reaching $46.72. The stock had a trading volume of 768,190 shares, compared to its average volume of 953,229. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The stock has a fifty day moving average price of $47.78 and a two-hundred day moving average price of $45.74. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.17 and a beta of 0.59.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million for the quarter, compared to analysts' expectations of $882.66 million. During the same quarter in the prior year, the business earned $0.46 EPS. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.28%. Portland General Electric's dividend payout ratio is currently 59.70%.

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.