MetLife Investment Management LLC Reduces Stake in Portland General Electric (NYSE:POR)

MetLife Investment Management LLC decreased its holdings in shares of Portland General Electric (NYSE:POR) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,036 shares of the utilities provider’s stock after selling 944 shares during the quarter. MetLife Investment Management LLC owned approximately 0.10% of Portland General Electric worth $5,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Portland General Electric by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,603 shares of the utilities provider’s stock worth $2,210,000 after buying an additional 3,703 shares during the last quarter. Jane Street Group LLC boosted its stake in Portland General Electric by 274.5% in the first quarter. Jane Street Group LLC now owns 197,687 shares of the utilities provider’s stock valued at $8,303,000 after acquiring an additional 144,900 shares in the last quarter. Tidal Investments LLC boosted its stake in Portland General Electric by 3.6% in the first quarter. Tidal Investments LLC now owns 19,118 shares of the utilities provider’s stock valued at $801,000 after acquiring an additional 662 shares in the last quarter. Comerica Bank grew its holdings in shares of Portland General Electric by 5.7% during the first quarter. Comerica Bank now owns 172,504 shares of the utilities provider’s stock worth $7,245,000 after purchasing an additional 9,239 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Portland General Electric by 228.4% during the first quarter. Cetera Investment Advisers now owns 52,833 shares of the utilities provider’s stock worth $2,219,000 after purchasing an additional 36,744 shares in the last quarter.

Portland General Electric Stock Down 0.3 %

POR stock opened at $47.92 on Friday. The stock has a market capitalization of $5.05 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.59. The company has a fifty day moving average of $47.40 and a 200-day moving average of $46.18. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, analysts expect that Portland General Electric will post 3.12 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. Portland General Electric’s payout ratio is currently 59.70%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on POR shares. Bank of America assumed coverage on Portland General Electric in a research report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price for the company. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of Portland General Electric in a research report on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays dropped their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Portland General Electric currently has an average rating of “Hold” and an average target price of $48.86.

Insider Transactions at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the sale, the senior vice president now owns 14,263 shares in the company, valued at $688,902.90. This represents a 14.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

About Portland General Electric

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.