Teacher Retirement System of Texas Acquires 2,031 Shares of Portland General Electric (NYSE:POR)

Teacher Retirement System of Texas lifted its holdings in Portland General Electric (NYSE:POR) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,178 shares of the utilities provider’s stock after buying an additional 2,031 shares during the quarter. Teacher Retirement System of Texas’ holdings in Portland General Electric were worth $1,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its position in Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP increased its position in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares during the period. Channing Capital Management LLC raised its holdings in Portland General Electric by 7.2% during the 4th quarter. Channing Capital Management LLC now owns 1,831,864 shares of the utilities provider’s stock worth $79,906,000 after purchasing an additional 123,223 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock valued at $74,863,000 after purchasing an additional 138,831 shares during the period.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s 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 of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

POR has been the subject of several analyst reports. Jefferies Financial Group lowered their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America lowered their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Evercore ISI upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays raised their price target on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, KeyCorp dropped their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Up 1.5 %

Shares of Portland General Electric stock opened at $44.39 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81. The business has a 50-day moving average of $43.01 and a two-hundred day moving average of $45.04. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same period in the prior year, the business earned $0.67 EPS. As a group, equities analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

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.