Retirement Systems of Alabama Has $5.49 Million Position in Portland General Electric (NYSE:POR)

Retirement Systems of Alabama grew its holdings in Portland General Electric (NYSE:POR) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,652 shares of the utilities provider’s stock after buying an additional 423 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Portland General Electric worth $5,489,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Portland General Electric by 181.8% during the fourth quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 409 shares during the last quarter. BKM Wealth Management LLC bought a new position in Portland General Electric in the 4th quarter valued at $33,000. Allworth Financial LP increased its stake in shares of Portland General Electric by 44.0% in the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after buying an additional 261 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth $38,000. Finally, GAMMA Investing LLC acquired a new position in shares of Portland General Electric during the fourth quarter valued at $38,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho reissued a “neutral” rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. Barclays cut their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and dropped their target price for the company from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Bank of America downgraded Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $43.00 in a report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Portland General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $45.13.

Insider Buying and Selling

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the sale, the chief operating officer now owns 31,950 shares of the company’s stock, valued at approximately $1,297,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 0.7 %

Shares of Portland General Electric stock opened at $43.77 on Monday. The company has a market capitalization of $4.51 billion, a P/E ratio of 16.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.09. The business has a 50-day moving average of $41.61 and a two-hundred day moving average of $41.58. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The business had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same period in the prior year, the business earned $0.80 EPS. Portland General Electric’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities analysts predict that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be given a $0.50 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date is Friday, June 21st. Portland General Electric’s payout ratio is currently 72.80%.

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.