Vestcor Inc Purchases New Shares in Portland General Electric (NYSE:POR)

Vestcor Inc bought a new stake in Portland General Electric (NYSE:POR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,836 shares of the utilities provider's stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its position in Portland General Electric by 0.8% in the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after acquiring an additional 245 shares in the last quarter. Choreo LLC increased its holdings in shares of Portland General Electric by 1.4% in the 4th 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 lifted its stake in shares of Portland General Electric by 151.0% in 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 during the period. Townsquare Capital LLC increased its holdings in Portland General Electric by 6.4% in the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider's stock valued at $364,000 after buying an additional 458 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Portland General Electric by 5.8% during the 4th quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock worth $372,000 after acquiring an additional 465 shares in the last quarter.

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Analyst Upgrades and Downgrades

POR has been the topic of several research reports. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Bank of America reduced their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a report on Tuesday, December 24th. Finally, Barclays lifted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $47.00.

Portland General Electric Trading Down 1.4 %

POR stock traded down $0.60 on Friday, hitting $43.73. 2,437,865 shares of the company were exchanged, compared to its average volume of 920,752. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The business's fifty day moving average is $42.74 and its two-hundred day moving average is $45.26. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS 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 firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, 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 issued 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 4.57%. Portland General Electric's dividend payout ratio is currently 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

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.