Ensign Peak Advisors Inc Has $3.26 Million Position in Portland General Electric (NYSE:POR)

Ensign Peak Advisors Inc lifted its holdings in shares of Portland General Electric (NYSE:POR) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,637 shares of the utilities provider’s stock after purchasing an additional 12,390 shares during the quarter. Ensign Peak Advisors Inc owned 0.07% of Portland General Electric worth $3,256,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of POR. Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric during the fourth quarter worth about $32,553,000. Park Avenue Securities LLC raised its position in shares of Portland General Electric by 24.0% during the fourth quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider’s stock worth $910,000 after purchasing an additional 4,044 shares during the period. USA Financial Formulas acquired a new stake in shares of Portland General Electric during the fourth quarter worth about $71,000. Trust Co. of Vermont raised its position in shares of Portland General Electric by 5.8% during the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 465 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of Portland General Electric during the fourth quarter worth about $360,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on POR shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. Barclays dropped their target price on Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Finally, UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and lifted their target price for the company from $47.00 to $50.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and an average price target of $45.45.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction on 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 directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the sale, the executive vice president now owns 32,646 shares of the company’s stock, valued at $1,404,430.92. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,795 shares of company stock worth $159,946. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Down 1.1%

NYSE:POR opened at $41.05 on Thursday. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The stock’s 50 day moving average price is $43.07 and its two-hundred day moving average price is $43.83. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $977.02 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.525 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric’s payout ratio is currently 73.94%.

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.