Mackenzie Financial Corp Buys 1,095 Shares of Portland General Electric (NYSE:POR)

Mackenzie Financial Corp lifted its stake in Portland General Electric (NYSE:POR) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,149 shares of the utilities provider’s stock after purchasing an additional 1,095 shares during the quarter. Mackenzie Financial Corp’s holdings in Portland General Electric were worth $612,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of POR. New York State Teachers Retirement System raised its position in Portland General Electric by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 24,061 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 300 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Portland General Electric by 0.3% in the first quarter. Retirement Systems of Alabama now owns 126,987 shares of the utilities provider’s stock worth $5,333,000 after buying an additional 335 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Portland General Electric by 20.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. boosted its holdings in Portland General Electric by 94.5% during the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares during the period. Finally, State of Michigan Retirement System grew its position in Portland General Electric by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 24,800 shares of the utilities provider’s stock valued at $1,042,000 after acquiring an additional 500 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on POR shares. Barclays lowered shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $48.00 to $49.00 in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Evercore ISI started coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target for the company. KeyCorp raised Portland General Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.78.

Portland General Electric Price Performance

POR opened at $46.58 on Friday. The firm has a market capitalization of $4.80 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59. The business’s 50-day moving average is $47.52 and its two-hundred day moving average is $44.79. Portland General Electric has a 1 year low of $39.03 and a 1 year high of $49.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $716.43 million. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. Portland General Electric’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. Research analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. Portland General Electric’s payout ratio is 76.63%.

Insider Buying and Selling

In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the sale, the vice president now directly owns 22,606 shares in the company, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Portland General Electric news, VP John Teeruk Kochavatr sold 1,100 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.25, for a total value of $50,875.00. Following the completion of the transaction, the vice president now owns 22,606 shares of the company’s stock, valued at approximately $1,045,527.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin Felton sold 1,886 shares of Portland General Electric stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total value of $90,528.00. Following the sale, the chief operating officer now directly owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,486 shares of company stock worth $262,153 in the last ninety days. 0.54% of the stock is owned by insiders.

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.