Principal Financial Group Inc. Has $77.91 Million Stock Position in Portland General Electric (NYSE:POR)

Principal Financial Group Inc. decreased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,626,553 shares of the utilities provider's stock after selling 247,146 shares during the period. Principal Financial Group Inc. owned about 1.54% of Portland General Electric worth $77,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Gabelli Funds LLC boosted its holdings in shares of Portland General Electric by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 297,049 shares of the utilities provider's stock valued at $12,476,000 after purchasing an additional 11,000 shares in the last quarter. Jane Street Group LLC boosted its stake in Portland General Electric by 274.5% in the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider's stock valued at $8,303,000 after buying an additional 144,900 shares in the last quarter. Edgestream Partners L.P. grew its position in Portland General Electric by 299.1% in the first quarter. Edgestream Partners L.P. now owns 102,993 shares of the utilities provider's stock valued at $4,326,000 after acquiring an additional 77,185 shares during the last quarter. Clearbridge Investments LLC raised its stake in Portland General Electric by 13.1% during the first quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider's stock worth $20,175,000 after acquiring an additional 55,555 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of Portland General Electric by 231.6% in the first quarter. Cetera Advisors LLC now owns 19,499 shares of the utilities provider's stock worth $819,000 after acquiring an additional 13,618 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays lowered 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 report on Tuesday, October 29th. KeyCorp raised shares of Portland General Electric from a "sector weight" rating to an "overweight" rating in a research note on Monday, July 22nd. Evercore ISI initiated coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 price target for the company. 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, StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. One investment 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's stock. According to MarketBeat.com, Portland General Electric has an average rating of "Hold" and an average target price of $48.86.

Insider Activity at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the 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 completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Portland General Electric Trading Up 1.1 %

NYSE:POR traded up $0.53 during trading hours on Friday, hitting $47.02. 1,388,118 shares of the company were exchanged, compared to its average volume of 978,020. The company has a fifty day simple moving average of $47.71 and a 200 day simple moving average of $45.84. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.20 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 (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million for 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%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's dividend payout ratio is presently 59.70%.

About Portland General Electric

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.