Thrivent Financial for Lutherans Increases Stock Position in Portland General Electric (NYSE:POR)

Thrivent Financial for Lutherans lifted its holdings in shares of Portland General Electric (NYSE:POR) by 29.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980,752 shares of the utilities provider’s stock after purchasing an additional 223,147 shares during the period. Thrivent Financial for Lutherans owned about 0.93% of Portland General Electric worth $42,780,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of POR. State Street Corp increased its position in Portland General Electric by 1.6% during the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after buying an additional 66,438 shares in the last quarter. Geode Capital Management LLC raised its stake in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after purchasing an additional 25,332 shares during the last quarter. Zimmer Partners LP lifted its holdings in Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after purchasing an additional 952,214 shares in the last quarter. Channing Capital Management LLC boosted its stake in shares of Portland General Electric by 7.2% during the 4th quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock worth $79,906,000 after purchasing an additional 123,223 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Portland General Electric by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after buying an additional 138,831 shares in the last quarter.

Portland General Electric Stock Performance

NYSE POR opened at $44.29 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. Portland General Electric has a 1-year low of $40.05 and a 1-year high of $49.85. The firm has a market capitalization of $4.85 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.11 and a beta of 0.55. The business’s 50-day simple moving average is $42.71 and its 200-day simple moving average is $45.27.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the previous year, the company posted $0.67 earnings per share. Equities analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.52%. Portland General Electric’s dividend payout ratio is currently 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

POR has been the topic of several recent analyst reports. UBS Group reissued a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Jefferies Financial Group decreased their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Barclays lifted their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Bank of America reduced their target price on 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. Finally, KeyCorp lowered their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and an average price target of $47.00.

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.