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

New York State Common Retirement Fund decreased its stake in Portland General Electric Company (NYSE:POR - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 422,706 shares of the utilities provider's stock after selling 41,105 shares during the quarter. 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in shares of Portland General Electric by 1.1% during the 1st quarter. Arizona State Retirement System now owns 30,249 shares of the utilities provider's stock valued at $1,349,000 after purchasing an additional 337 shares in the last quarter. Xponance Inc. raised its holdings in Portland General Electric by 2.3% in the 1st quarter. Xponance Inc. now owns 15,163 shares of the utilities provider's stock worth $676,000 after acquiring an additional 339 shares during the period. State of Michigan Retirement System raised its holdings in Portland General Electric by 4.8% in the 1st quarter. State of Michigan Retirement System now owns 26,200 shares of the utilities provider's stock worth $1,169,000 after acquiring an additional 1,200 shares during the period. Cerity Partners LLC raised its holdings in Portland General Electric by 88.5% in the 1st quarter. Cerity Partners LLC now owns 85,895 shares of the utilities provider's stock worth $3,831,000 after acquiring an additional 40,329 shares during the period. Finally, Alps Advisors Inc. raised its holdings in Portland General Electric by 7.7% in the 1st quarter. Alps Advisors Inc. now owns 28,890 shares of the utilities provider's stock worth $1,288,000 after acquiring an additional 2,074 shares during the period.

Portland General Electric Stock Performance

Shares of POR stock traded down $0.19 on Friday, hitting $40.02. The company's stock had a trading volume of 1,845,886 shares, compared to its average volume of 1,070,658. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. The stock's 50 day moving average is $41.25 and its 200-day moving average is $42.23. Portland General Electric Company has a fifty-two week low of $39.55 and a fifty-two week high of $49.85. The company has a market capitalization of $4.38 billion, a PE ratio of 14.09, a PEG ratio of 3.72 and a beta of 0.56.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. During the same quarter in the previous year, the company earned $1.21 earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Tuesday, June 24th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is 73.94%.

Wall Street Analysts Forecast Growth

POR has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of 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. KeyCorp downgraded shares of Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a research note on Wednesday, May 14th. BMO Capital Markets started coverage on shares of Portland General Electric in a report on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price objective for the company. Barclays decreased their price objective on shares of Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Evercore ISI reduced their price target on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Portland General Electric currently has a consensus rating of "Hold" and a consensus 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.