MetLife Investment Management LLC Has $5.22 Million Holdings in Portland General Electric (NYSE:POR)

MetLife Investment Management LLC grew its stake in Portland General Electric (NYSE:POR - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,551 shares of the utilities provider's stock after purchasing an additional 9,515 shares during the period. MetLife Investment Management LLC owned about 0.11% of Portland General Electric worth $5,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Portland General Electric by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock valued at $43,058,000 after acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. raised its position in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after purchasing an additional 81,701 shares during the last quarter. Synergy Asset Management LLC raised its position in Portland General Electric by 260.6% in the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Portland General Electric by 13.2% during the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock valued at $258,000 after purchasing an additional 692 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Portland General Electric by 3.7% during the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider's stock worth $6,166,000 after purchasing an additional 5,084 shares during the last quarter.

Portland General Electric Trading Up 0.6 %

Shares of NYSE:POR traded up $0.24 during midday trading on Tuesday, reaching $41.65. The company's stock had a trading volume of 161,540 shares, compared to its average volume of 1,029,033. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a 50 day moving average price of $43.55 and a two-hundred day moving average price of $44.28. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.11 and a beta of 0.49.

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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. Portland General Electric's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Tuesday, June 24th. Portland General Electric's payout ratio is 69.77%.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,795 shares of company stock worth $159,946. Company insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on POR shares. Jefferies Financial Group dropped their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday. StockNews.com raised Portland General Electric from a "sell" rating to a "hold" rating in a research report on Friday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. One 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. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of "Hold" and an average price target of $45.40.

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.