American Century Companies Inc. Increases Holdings in Portland General Electric (NYSE:POR)

American Century Companies Inc. boosted its stake in Portland General Electric (NYSE:POR) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,367 shares of the utilities provider’s stock after purchasing an additional 5,084 shares during the period. American Century Companies Inc. owned approximately 0.13% of Portland General Electric worth $6,166,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in POR. State Street Corp grew its stake in shares of Portland General Electric by 1.6% in the third 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 in the last quarter. Geode Capital Management LLC grew its position 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 in the last quarter. Zimmer Partners LP raised its stake in shares of Portland General Electric by 107.0% during the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after purchasing an additional 952,214 shares during the period. Channing Capital Management LLC lifted its position in shares of Portland General Electric by 7.2% during the fourth 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Portland General Electric by 8.8% in the fourth 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.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on POR shares. Barclays lifted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Evercore ISI boosted their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. StockNews.com downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Jefferies Financial Group reduced their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.00.

Portland General Electric Stock Performance

POR stock opened at $42.69 on Friday. The stock’s 50 day simple moving average is $43.28 and its 200 day simple moving average is $44.92. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The firm has a market cap of $4.68 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

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

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. Portland General Electric’s dividend payout ratio is currently 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.