New York State Teachers Retirement System Buys 300 Shares of Portland General Electric (NYSE:POR)

New York State Teachers Retirement System lifted its stake in shares of Portland General Electric (NYSE:POR) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,061 shares of the utilities provider’s stock after acquiring an additional 300 shares during the quarter. New York State Teachers Retirement System’s holdings in Portland General Electric were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Channing Capital Management LLC acquired a new stake in Portland General Electric during the 4th quarter valued at approximately $49,763,000. Goldman Sachs Group Inc. raised its stake in Portland General Electric by 29.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after buying an additional 1,017,503 shares during the last quarter. Norges Bank acquired a new position in Portland General Electric in the fourth quarter valued at $39,112,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in Portland General Electric in the fourth quarter valued at $17,460,000. Finally, Truist Financial Corp grew its holdings in Portland General Electric by 103.5% during the 4th quarter. Truist Financial Corp now owns 507,731 shares of the utilities provider’s stock worth $22,005,000 after acquiring an additional 258,275 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on POR shares. Mizuho boosted their price objective on Portland General Electric from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total value of $142,100.00. Following the completion of the sale, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total transaction of $88,600.00. Following the transaction, the senior vice president now owns 16,763 shares of the company’s stock, valued at approximately $742,600.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,463 shares of company stock worth $274,064. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Stock Down 0.2 %

Shares of POR traded down $0.08 during trading hours on Tuesday, reaching $42.85. The stock had a trading volume of 705,049 shares, compared to its average volume of 962,262. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 16.42 and a beta of 0.58. The firm has a 50-day simple moving average of $43.23 and a 200 day simple moving average of $42.22. The company has a current ratio of 1.22, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $49.77.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.09 by $0.12. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $828.94 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts predict that Portland General Electric will post 3.08 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 24th will be given a $0.50 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s dividend payout ratio is presently 72.80%.

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.