Corebridge Financial Inc. Has $7.43 Million Stock Holdings in Portland General Electric (NYSE:POR)

Corebridge Financial Inc. reduced its stake in shares of Portland General Electric (NYSE:POR) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 170,316 shares of the utilities provider’s stock after selling 5,146 shares during the period. Corebridge Financial Inc.’s holdings in Portland General Electric were worth $7,429,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Portland General Electric by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after acquiring an additional 572,531 shares during the period. LPL Financial LLC increased its holdings in Portland General Electric by 33.7% during the 4th quarter. LPL Financial LLC now owns 48,700 shares of the utilities provider’s stock worth $2,124,000 after purchasing an additional 12,265 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after purchasing an additional 5,084 shares during the period. Sciencast Management LP bought a new stake in shares of Portland General Electric in the fourth quarter valued at about $336,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Portland General Electric by 2.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 196,923 shares of the utilities provider’s stock worth $8,590,000 after buying an additional 4,304 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction dated 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. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on POR. Jefferies Financial Group reduced their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Evercore ISI increased their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Bank of America decreased their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. KeyCorp cut their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Up 1.5 %

Shares of POR stock opened at $44.39 on Friday. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.11 and a beta of 0.55. The firm’s 50-day moving average is $43.01 and its 200-day moving average is $45.06. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92.

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, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. 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. Shareholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is 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.