Geode Capital Management LLC Purchases 25,332 Shares of Portland General Electric (NYSE:POR)

Geode Capital Management LLC raised its holdings in Portland General Electric (NYSE:POR - Free Report) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,444,486 shares of the utilities provider's stock after purchasing an additional 25,332 shares during the quarter. Geode Capital Management LLC owned 2.32% of Portland General Electric worth $117,114,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock valued at $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock valued at $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Portland General Electric by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock valued at $65,234,000 after purchasing an additional 86,718 shares in the last quarter. HITE Hedge Asset Management LLC boosted its holdings in shares of Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock valued at $64,216,000 after purchasing an additional 97,922 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Portland General Electric by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider's stock valued at $61,219,000 after purchasing an additional 13,720 shares in the last quarter.

Portland General Electric Trading Down 1.9 %

NYSE:POR traded down $0.83 during trading hours on Wednesday, hitting $43.66. 1,264,236 shares of the company were exchanged, compared to its average volume of 954,416. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a fifty day simple moving average of $47.02 and a 200 day simple moving average of $46.31.

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

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Barclays cut their price objective on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a "hold" rating and a $48.00 price objective on the stock. Finally, Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They set an "underperform" rating and a $47.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and an average target price of $49.13.

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.