Swiss National Bank Boosts Stake in Portland General Electric (NYSE:POR)

Swiss National Bank raised its position in Portland General Electric (NYSE:POR) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,700 shares of the utilities provider’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank owned 0.19% of Portland General Electric worth $8,842,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Zimmer Partners LP lifted its stake in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $32,553,000. OLD Republic International Corp acquired a new position in shares of Portland General Electric in the fourth quarter valued at approximately $22,464,000. Raymond James Financial Inc. purchased a new stake in Portland General Electric during the 4th quarter worth approximately $7,181,000. Finally, Bank of New York Mellon Corp lifted its holdings in Portland General Electric by 8.8% during the 4th 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 Down 1.4 %

Shares of NYSE:POR opened at $43.73 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a 50 day simple moving average of $42.80 and a 200-day simple moving average of $45.23. The company has a market capitalization of $4.79 billion, a PE ratio of 14.53, a P/E/G ratio of 1.11 and a beta of 0.55. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on POR. Jefferies Financial Group cut their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Bank of America reduced their price target 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. Barclays boosted their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by company insiders.

Portland General Electric Company 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.