Mutual of America Capital Management LLC Has $2.51 Million Holdings in Portland General Electric Company (NYSE:POR)

Mutual of America Capital Management LLC trimmed its position in shares of Portland General Electric Company (NYSE:POR) by 33.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,278 shares of the utilities provider’s stock after selling 27,793 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Portland General Electric worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in POR. True Wealth Design LLC acquired a new stake in shares of Portland General Electric during the fourth quarter valued at about $27,000. Wayfinding Financial LLC acquired a new stake in shares of Portland General Electric during the first quarter valued at about $27,000. Private Trust Co. NA boosted its stake in shares of Portland General Electric by 62.6% during the first quarter. Private Trust Co. NA now owns 634 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Portland General Electric by 113.1% during the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 345 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Portland General Electric during the fourth quarter valued at about $52,000.

Analyst Ratings Changes

POR has been the subject of a number of analyst reports. Wall Street Zen upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Evercore ISI lowered their price target on shares of Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Barclays lowered their price target on shares of Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered 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 report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.60.

Portland General Electric Trading Down 0.5%

Shares of POR stock opened at $40.02 on Friday. The company has a market cap of $4.38 billion, a P/E ratio of 14.09, a PEG ratio of 3.74 and a beta of 0.56. The stock has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $42.24. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. Portland General Electric Company has a fifty-two week low of $39.55 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Research analysts forecast that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th were issued a dividend of $0.525 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 5.25%. Portland General Electric’s payout ratio is currently 73.94%.

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.