Russell Investments Group Ltd. Acquires 84,104 Shares of Portland General Electric (NYSE:POR)

Russell Investments Group Ltd. lifted its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 58.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 228,921 shares of the utilities provider's stock after buying an additional 84,104 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Portland General Electric worth $9,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System boosted its position in Portland General Electric by 0.8% during the 4th quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock valued at $1,305,000 after acquiring an additional 245 shares in the last quarter. Choreo LLC boosted its position in shares of Portland General Electric by 1.4% during the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock valued at $1,166,000 after purchasing an additional 371 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 450 shares in the last quarter. Trust Co. of Vermont grew its stake in Portland General Electric by 5.8% in the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock worth $372,000 after purchasing an additional 465 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Portland General Electric by 2.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider's stock worth $938,000 after purchasing an additional 500 shares in the last quarter.

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on POR shares. Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Jefferies Financial Group lowered their target price on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. LADENBURG THALM/SH SH downgraded Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a research note on Tuesday, February 18th. Finally, Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Portland General Electric has an average rating of "Hold" and a consensus price target of $45.78.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Portland General Electric Stock Down 0.1 %

POR stock traded down $0.06 during midday trading on Tuesday, hitting $43.19. The company's stock had a trading volume of 875,027 shares, compared to its average volume of 1,029,892. The company has a market cap of $4.73 billion, a PE ratio of 14.35, a P/E/G ratio of 1.11 and a beta of 0.49. The firm's 50-day moving average is $43.38 and its 200-day moving average is $44.56. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.63%. Portland General Electric's payout ratio is 66.45%.

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.