Portland General Electric (NYSE:POR) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in Portland General Electric (NYSE:POR - Free Report) by 205.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,278 shares of the utilities provider's stock after purchasing an additional 52,620 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of Portland General Electric worth $3,338,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in Portland General Electric by 1,022.6% during the 2nd quarter. Alliancebernstein L.P. now owns 3,105,863 shares of the utilities provider's stock valued at $145,448,000 after acquiring an additional 2,829,184 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Portland General Electric by 86.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,554,741 shares of the utilities provider's stock worth $119,639,000 after purchasing an additional 1,187,890 shares during the last quarter. Wellington Management Group LLP lifted its stake in Portland General Electric by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider's stock valued at $334,647,000 after buying an additional 1,087,996 shares in the last quarter. State Street Corp grew its holdings in Portland General Electric by 37.2% during the 2nd quarter. State Street Corp now owns 3,339,567 shares of the utilities provider's stock valued at $162,473,000 after buying an additional 905,308 shares during the last quarter. Finally, Millennium Management LLC increased its position in Portland General Electric by 927.0% during the fourth quarter. Millennium Management LLC now owns 970,767 shares of the utilities provider's stock worth $47,568,000 after buying an additional 876,246 shares in the last quarter.

Analyst Ratings Changes

POR has been the topic of a number of analyst reports. Mizuho reaffirmed a "neutral" rating and set a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Bank of America lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and cut their price objective for the company from $55.00 to $43.00 in a research report on Monday, February 5th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $47.00 to $45.00 in a research note on Monday, January 29th. StockNews.com lowered Portland General Electric from a "hold" rating to a "sell" rating in a research note on Tuesday, February 27th. Finally, Barclays decreased their target price on shares of Portland General Electric from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average target price of $45.13.

Portland General Electric Trading Down 0.4 %

POR traded down $0.16 on Friday, reaching $40.56. 1,295,682 shares of the company's stock were exchanged, compared to its average volume of 869,996. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 17.41 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.84. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The company's 50 day moving average is $40.92 and its 200-day moving average is $41.37.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.20). The business had revenue of $725.00 million during the quarter, compared to analyst estimates of $740.21 million. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. Portland General Electric's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. Equities analysts predict that Portland General Electric will post 3.07 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 22nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Thursday, March 21st. Portland General Electric's payout ratio is 81.55%.

About Portland General Electric

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.