Truist Financial Corp Has $22.01 Million Position in Portland General Electric (NYSE:POR)

Truist Financial Corp increased its position in Portland General Electric (NYSE:POR - Free Report) by 103.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 507,731 shares of the utilities provider's stock after acquiring an additional 258,275 shares during the quarter. Truist Financial Corp owned about 0.50% of Portland General Electric worth $22,005,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Leeward Investments LLC MA raised its holdings in Portland General Electric by 16.9% in the 4th quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider's stock worth $23,694,000 after acquiring an additional 79,052 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Portland General Electric by 7.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 60,564 shares of the utilities provider's stock valued at $2,625,000 after buying an additional 4,078 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Portland General Electric during the fourth quarter valued at about $38,000. New York State Common Retirement Fund raised its position in shares of Portland General Electric by 384.1% during the fourth quarter. New York State Common Retirement Fund now owns 321,763 shares of the utilities provider's stock valued at $13,945,000 after buying an additional 255,292 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Portland General Electric by 1.2% during the fourth quarter. California Public Employees Retirement System now owns 503,943 shares of the utilities provider's stock valued at $21,841,000 after buying an additional 6,207 shares during the last quarter.

Insiders Place Their Bets

In other news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the sale, the chief operating officer now directly owns 31,950 shares of the company's stock, valued at $1,297,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 cut their price objective for the company from $47.00 to $45.00 in a research report on Monday, January 29th. 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 report on Tuesday, February 20th. Barclays lowered 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 note on Wednesday, February 21st. Finally, StockNews.com raised shares of Portland General Electric from a "sell" rating to a "hold" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.13.

Portland General Electric Price Performance

Portland General Electric stock traded down $0.14 during trading hours on Tuesday, hitting $43.23. 1,081,993 shares of the stock were exchanged, compared to its average volume of 974,610. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The stock has a market capitalization of $4.37 billion, a P/E ratio of 16.56 and a beta of 0.57. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58. The business's 50-day moving average is $41.47 and its two-hundred day moving average is $41.52.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.12. The firm had revenue of $929.00 million for the quarter, compared to analysts' expectations of $828.94 million. Portland General Electric had a net margin of 8.51% and a return on equity of 8.50%. The company's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities research analysts expect that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.63%. This is a boost from Portland General Electric's previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. Portland General Electric's dividend payout ratio is currently 72.80%.

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.