State Street Corp Purchases 66,438 Shares of Portland General Electric (NYSE:POR)

State Street Corp grew its stake in Portland General Electric (NYSE:POR - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,123,279 shares of the utilities provider's stock after buying an additional 66,438 shares during the period. State Street Corp owned approximately 3.91% of Portland General Electric worth $199,509,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in POR. V Square Quantitative Management LLC acquired a new position in Portland General Electric in the 3rd quarter valued at $25,000. Allworth Financial LP boosted its holdings in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 265 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the second quarter valued at about $33,000. Blue Trust Inc. increased its stake in shares of Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider's stock worth $39,000 after purchasing an additional 451 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Portland General Electric during the 2nd quarter worth about $40,000.

Portland General Electric Stock Performance

Portland General Electric stock traded down $0.05 on Friday, hitting $44.48. The company's stock had a trading volume of 2,083,458 shares, compared to its average volume of 951,759. The company has a fifty day moving average price of $47.13 and a 200-day moving average price of $46.26. The firm has a market cap of $4.69 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR - Get Free Report) last posted its 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. The business had revenue of $929.00 million for the quarter, compared to analysts' expectations of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced 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 is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. Portland General Electric's dividend payout ratio (DPR) is presently 59.70%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on POR shares. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. KeyCorp lowered their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Evercore ISI assumed 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 on the stock. Finally, Barclays cut 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $49.13.

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.