Thrivent Financial for Lutherans Acquires 187,825 Shares of Portland General Electric Company $POR

Thrivent Financial for Lutherans raised its holdings in Portland General Electric Company (NYSE:POR) by 19.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,172,284 shares of the utilities provider’s stock after acquiring an additional 187,825 shares during the period. Thrivent Financial for Lutherans’ holdings in Portland General Electric were worth $47,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC grew its stake in Portland General Electric by 38.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 44,777 shares of the utilities provider’s stock worth $1,819,000 after buying an additional 12,518 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of Portland General Electric by 24.1% during the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock valued at $221,810,000 after buying an additional 1,058,623 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Portland General Electric during the 2nd quarter worth $376,000. Envestnet Asset Management Inc. grew its position in Portland General Electric by 5.5% in the second quarter. Envestnet Asset Management Inc. now owns 513,398 shares of the utilities provider’s stock worth $20,859,000 after acquiring an additional 26,753 shares in the last quarter. Finally, Eastern Bank bought a new position in Portland General Electric in the second quarter valued at $65,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Portland General Electric in a research note on Monday, October 27th. They set an “equal weight” rating and a $45.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday. LADENBURG THALM/SH SH reiterated a “sell” rating and set a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Portland General Electric in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.33.

Portland General Electric Price Performance

Shares of Portland General Electric stock opened at $49.32 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14. The business’s 50 day simple moving average is $47.43 and its two-hundred day simple moving average is $43.77. The stock has a market capitalization of $5.55 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 4.42 and a beta of 0.67.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is 76.36%.

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.