State of New Jersey Common Pension Fund D Acquires 1,254 Shares of Portland General Electric (NYSE:POR)

State of New Jersey Common Pension Fund D grew its holdings in shares of Portland General Electric (NYSE:POR) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,749 shares of the utilities provider’s stock after acquiring an additional 1,254 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Portland General Electric were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of POR. Newbridge Financial Services Group Inc. purchased a new position in Portland General Electric during the fourth quarter valued at $29,000. Allworth Financial LP raised its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the period. Versant Capital Management Inc lifted its position in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. USA Financial Formulas bought a new position in shares of Portland General Electric during the 4th quarter valued at approximately $71,000. Finally, International Assets Investment Management LLC increased its holdings in Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,970 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’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 value of $56,815.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America lowered their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Evercore ISI lifted 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 note on Tuesday, February 18th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, February 18th. KeyCorp lowered their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Barclays dropped their price objective on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Trading Down 0.1 %

Shares of POR stock opened at $44.31 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85. The stock’s 50-day moving average price is $42.39 and its 200-day moving average price is $45.57.

Portland General Electric (NYSE:POR) last released its quarterly earnings data 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. The business had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter in the previous year, the company posted $0.67 EPS. Equities research analysts predict that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) 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.