MetLife Investment Management LLC Grows Stock Holdings in Portland General Electric (NYSE:POR)

MetLife Investment Management LLC boosted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,551 shares of the utilities provider's stock after buying an additional 9,515 shares during the quarter. MetLife Investment Management LLC owned 0.11% of Portland General Electric worth $5,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. Vanguard Group Inc. increased its stake in shares of Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock worth $519,651,000 after buying an additional 572,531 shares during the period. JPMorgan Chase & Co. grew its holdings in Portland General Electric by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock worth $145,403,000 after acquiring an additional 93,903 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Portland General Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider's stock valued at $108,710,000 after purchasing an additional 47,172 shares during the last quarter. Invesco Ltd. increased its position in shares of Portland General Electric by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,200,086 shares of the utilities provider's stock valued at $95,968,000 after purchasing an additional 271,540 shares during the last quarter. Finally, Channing Capital Management LLC raised its holdings in shares of Portland General Electric by 7.2% in the 4th quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider's stock valued at $79,906,000 after purchasing an additional 123,223 shares in the last quarter.

Insider Buying and Selling

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the sale, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm'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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,795 shares of company stock valued at $159,946. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on POR. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday. UBS Group reiterated a "neutral" rating and issued a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price target 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. Finally, Barclays increased their price target on shares of Portland General Electric from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Portland General Electric currently has an average rating of "Hold" and an average target price of $45.89.

Portland General Electric Stock Performance

NYSE POR traded down $1.47 on Friday, hitting $41.51. 1,847,314 shares of the company's stock were exchanged, compared to its average volume of 1,031,033. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.11 and a beta of 0.49. The firm's 50-day moving average price is $43.59 and its two-hundred day moving average price is $44.33. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week 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.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. During the same period in the prior year, the company earned $1.21 EPS. On average, research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a $0.525 dividend. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 5.06%. Portland General Electric's dividend payout ratio (DPR) is 69.77%.

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.