Rockefeller Capital Management L.P. Buys 1,471 Shares of Portland General Electric (NYSE:POR)

Rockefeller Capital Management L.P. lifted its position in Portland General Electric (NYSE:POR) by 13.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,741 shares of the utilities provider’s stock after purchasing an additional 1,471 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Portland General Electric were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB grew its stake in Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after buying an additional 19,057 shares during the last quarter. Franklin Resources Inc. grew its position in Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after acquiring an additional 81,701 shares during the last quarter. Synergy Asset Management LLC increased its holdings in Portland General Electric by 260.6% during the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Blair William & Co. IL raised its position in Portland General Electric by 13.2% in the 4th quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 692 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Portland General Electric by 3.7% in the fourth quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock worth $6,166,000 after purchasing an additional 5,084 shares in the last quarter.

Analyst Upgrades and Downgrades

POR has been the subject of a number of research reports. Jefferies Financial Group lowered 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. UBS Group reiterated a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Barclays lifted their target price on Portland General Electric from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.89.

Insider Transactions at Portland General Electric

In other news, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $43.02, for a total transaction of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares of the company’s stock, valued at $1,404,430.92. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,795 shares of company stock valued at $159,946 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $43.29 on Thursday. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $43.59 and a 200-day moving average of $44.40.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the company earned $0.67 earnings per share. On average, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s payout ratio is presently 66.45%.

Portland General Electric Company 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.