New York State Common Retirement Fund Decreases Position in Portland General Electric Company (NYSE:POR)

New York State Common Retirement Fund lessened its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 422,706 shares of the utilities provider's stock after selling 41,105 shares during the period. New York State Common Retirement Fund owned approximately 0.39% of Portland General Electric worth $18,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in POR. True Wealth Design LLC purchased a new stake in shares of Portland General Electric during the 4th quarter valued at $27,000. Wayfinding Financial LLC purchased a new stake in shares of Portland General Electric during the 1st quarter valued at $27,000. Private Trust Co. NA lifted its holdings in shares of Portland General Electric by 62.6% during the 1st quarter. Private Trust Co. NA now owns 634 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of Portland General Electric by 113.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 345 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Portland General Electric during the 4th quarter valued at $52,000.

Portland General Electric Price Performance

NYSE:POR opened at $40.72 on Thursday. Portland General Electric Company has a 52 week low of $39.55 and a 52 week high of $49.85. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.46 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 3.76 and a beta of 0.56. The stock's 50-day moving average price is $41.34 and its 200-day moving average price is $42.29.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. As a group, equities analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 5.16%. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, June 24th. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Analyst Ratings Changes

Several research firms recently issued reports on POR. BMO Capital Markets began coverage on Portland General Electric in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company cut their price target 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. Evercore ISI cut their price target on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and increased their price target for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and an average target price of $45.60.

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.

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