Portland General Electric (NYSE:POR) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Portland General Electric (NYSE:POR) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,581 shares of the utilities provider’s stock after selling 720 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Portland General Electric were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. grew its position in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after acquiring an additional 81,701 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Portland General Electric by 1.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,062,663 shares of the utilities provider’s stock worth $50,902,000 after purchasing an additional 17,021 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the period. Nordea Investment Management AB increased its stake in Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after purchasing an additional 19,057 shares during the last quarter. Finally, Oliver Luxxe Assets LLC raised its holdings in shares of Portland General Electric by 4.9% during the fourth quarter. Oliver Luxxe Assets LLC now owns 101,799 shares of the utilities provider’s stock worth $4,440,000 after purchasing an additional 4,780 shares during the period.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin Felton sold 1,845 shares of the firm’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,795 shares of company stock valued at $159,946. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on POR. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays lifted their target price on Portland General Electric from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $44.00 price target (down from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, February 18th. Finally, Evercore ISI upped their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.89.

Portland General Electric Stock Down 3.4 %

POR opened at $41.51 on Friday. The stock’s 50 day moving average price is $43.59 and its 200 day moving average price is $44.33. 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 cap of $4.55 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period last year, the business posted $1.21 earnings per share. As a group, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.06%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric’s payout ratio is 69.77%.

Portland General Electric 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.