Portland General Electric (NYSE:POR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Portland General Electric (NYSE:POR) by 38.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,888 shares of the utilities provider’s stock after selling 1,819 shares during the period. Public Employees Retirement System of Ohio’s holdings in Portland General Electric were worth $138,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Portland General Electric during the 3rd quarter worth about $596,000. Qsemble Capital Management LP acquired a new position in Portland General Electric during the second quarter worth approximately $678,000. Choreo LLC purchased a new position in Portland General Electric during the second quarter worth approximately $965,000. Citigroup Inc. boosted its holdings in shares of Portland General Electric by 43.5% in the 3rd quarter. Citigroup Inc. now owns 183,044 shares of the utilities provider’s stock valued at $8,768,000 after purchasing an additional 55,529 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Portland General Electric by 69.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 292,880 shares of the utilities provider’s stock valued at $14,029,000 after buying an additional 120,380 shares during the period.

Portland General Electric Trading Up 0.3 %

NYSE:POR opened at $44.03 on Friday. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The business’s 50-day simple moving average is $46.88 and its 200 day simple moving average is $46.29.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts predict that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 4.54%. Portland General Electric’s payout ratio is 59.70%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on POR. JPMorgan Chase & Co. boosted their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. Barclays decreased their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, Evercore ISI initiated coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $49.13.

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.