Thrivent Financial for Lutherans Acquires 223,147 Shares of Portland General Electric (NYSE:POR)

Thrivent Financial for Lutherans lifted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 29.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 980,752 shares of the utilities provider's stock after buying an additional 223,147 shares during the period. Thrivent Financial for Lutherans owned approximately 0.93% of Portland General Electric worth $42,780,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock valued at $199,509,000 after acquiring an additional 66,438 shares during the last quarter. Geode Capital Management LLC lifted its position in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider's stock valued at $117,114,000 after purchasing an additional 25,332 shares during the period. Zimmer Partners LP boosted its holdings in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock worth $88,258,000 after purchasing an additional 952,214 shares during the last quarter. Channing Capital Management LLC grew its position in 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 worth $79,906,000 after purchasing an additional 123,223 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider's stock valued at $74,863,000 after buying an additional 138,831 shares during the last quarter.

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Portland General Electric Price Performance

NYSE:POR traded down $0.31 on Monday, reaching $43.44. 811,563 shares of the company's stock traded hands, compared to its average volume of 918,532. The stock has a 50-day simple moving average of $42.80 and a 200-day simple moving average of $45.18. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market cap of $4.76 billion, a PE ratio of 14.43, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

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

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.60%. Portland General Electric's dividend payout ratio is currently 66.45%.

Insiders Place Their Bets

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on POR shares. Bank of America dropped their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group dropped their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Evercore ISI upped their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. KeyCorp dropped 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 report on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $47.00.

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.