MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $2.58 Million Stock Position in Portland General Electric (NYSE:POR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Portland General Electric (NYSE:POR) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,232 shares of the utilities provider’s stock after acquiring an additional 3,591 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Portland General Electric worth $2,584,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in POR. Park Avenue Securities LLC lifted its holdings in Portland General Electric by 24.0% during the 4th quarter. Park Avenue Securities LLC now owns 20,862 shares of the utilities provider’s stock worth $910,000 after purchasing an additional 4,044 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Portland General Electric in the fourth quarter valued at about $360,000. Nisa Investment Advisors LLC increased its position in Portland General Electric by 5.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 178,694 shares of the utilities provider’s stock worth $7,884,000 after acquiring an additional 9,537 shares during the period. SG Americas Securities LLC increased its position in Portland General Electric by 795.0% during the fourth quarter. SG Americas Securities LLC now owns 48,981 shares of the utilities provider’s stock worth $2,137,000 after acquiring an additional 43,508 shares during the period. Finally, KBC Group NV raised its stake in Portland General Electric by 59.3% in the 4th quarter. KBC Group NV now owns 3,649 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 1,359 shares in the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $42.81 on Wednesday. The company has a market capitalization of $4.69 billion, a PE ratio of 14.22, a P/E/G ratio of 1.11 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. The firm has a fifty day simple moving average of $42.87 and a 200 day simple moving average of $43.65.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $977.02 million. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Tuesday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is presently 73.94%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on POR. JPMorgan Chase & Co. dropped their price target on shares of Portland General Electric from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $50.00 in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. LADENBURG THALM/SH SH cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group cut 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 research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.60.

Insider Buying and Selling

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of Portland General Electric stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value 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 approximately $1,404,430.92. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by insiders.

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.