Portland General Electric (NYSE:POR) Stock Holdings Lifted by MML Investors Services LLC

MML Investors Services LLC raised its stake in Portland General Electric (NYSE:POR - Free Report) by 15.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 63,348 shares of the utilities provider's stock after purchasing an additional 8,515 shares during the period. MML Investors Services LLC owned 0.06% of Portland General Electric worth $2,763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in Portland General Electric in the fourth quarter worth about $62,004,000. Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $32,553,000. Vanguard Group Inc. raised its position in shares of Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after acquiring an additional 572,531 shares in the last quarter. OLD Republic International Corp bought a new position in Portland General Electric during the fourth quarter worth $22,464,000. Finally, Brandywine Global Investment Management LLC boosted its holdings in Portland General Electric by 1,510.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock worth $15,665,000 after purchasing an additional 336,823 shares during the period.

Portland General Electric Stock Performance

Shares of NYSE POR traded up $0.43 during midday trading on Wednesday, reaching $42.13. 1,451,738 shares of the company traded hands, compared to its average volume of 1,034,292. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.11 and a beta of 0.49. The stock has a 50-day moving average price of $43.51 and a 200 day moving average price of $44.27. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

Portland General Electric (NYSE:POR - Get Free Report) last released its 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). Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. During the same quarter last year, the company earned $1.21 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 4.98%. Portland General Electric's payout ratio is 69.77%.

Insider Buying and Selling at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the sale, the executive vice president now directly owns 32,646 shares of the company's stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,795 shares of company stock valued at $159,946. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on POR. UBS Group reaffirmed a "neutral" rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Evercore ISI dropped 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. 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 report on Monday. Finally, Jefferies Financial Group lowered their price objective on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Portland General Electric has an average rating of "Hold" and a consensus target price of $45.10.

Portland General Electric 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.