Charles Schwab Investment Management Inc. Has $57.29 Million Stock Position in Portland General Electric (NYSE:POR)

Charles Schwab Investment Management Inc. grew its holdings in shares of Portland General Electric (NYSE:POR) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,313,282 shares of the utilities provider’s stock after acquiring an additional 35,216 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Portland General Electric were worth $57,285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in POR. Zimmer Partners LP grew its holdings in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric during the fourth quarter valued at about $32,553,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Portland General Electric by 72.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock valued at $60,346,000 after buying an additional 530,020 shares during the last quarter. OLD Republic International Corp acquired a new position in shares of Portland General Electric during the fourth quarter valued at about $22,464,000. 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 valued at $74,863,000 after buying an additional 138,831 shares during the last quarter.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on POR shares. Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Barclays boosted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, 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 report on Wednesday, December 4th. One investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.00.

Portland General Electric Stock Performance

Shares of POR stock opened at $43.55 on Thursday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.11 and a beta of 0.55. 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 has a 52 week low of $40.05 and a 52 week high of $49.85. The firm’s 50-day simple moving average is $42.53 and its two-hundred day simple moving average is $45.38.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, equities analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.59%. Portland General Electric’s dividend payout ratio is currently 66.45%.

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.