Vestcor Inc Takes $298,000 Position in Portland General Electric (NYSE:POR)

Vestcor Inc bought a new position in Portland General Electric (NYSE:POR) in the fourth quarter, Holdings Channel reports. The institutional investor bought 6,836 shares of the utilities provider’s stock, valued at approximately $298,000.

A number of other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Portland General Electric in the 3rd quarter worth approximately $596,000. Nordea Investment Management AB increased its holdings in shares of Portland General Electric by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after buying an additional 19,057 shares during the period. Franklin Resources Inc. lifted its stake 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 valued at $7,289,000 after acquiring an additional 81,701 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after acquiring an additional 82,743 shares during the period. Finally, HighTower Advisors LLC grew its position in Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after acquiring an additional 10,643 shares during the last quarter.

Analysts Set New Price Targets

POR has been the subject of several recent research reports. LADENBURG THALM/SH SH downgraded 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. Bank of America decreased their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. Jefferies Financial Group dropped their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. UBS Group restated a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Evercore ISI increased their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $47.00.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Portland General Electric Stock Down 0.2 %

Portland General Electric stock opened at $44.79 on Tuesday. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The stock has a fifty day moving average of $42.63 and a 200 day moving average of $45.30. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The stock has a market cap of $4.90 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released 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. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, sell-side analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

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.