State of New Jersey Common Pension Fund D Grows Holdings in 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 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,564 shares of the utilities provider’s stock after buying an additional 4,078 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Portland General Electric worth $2,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allworth Financial LP boosted its stake in shares of Portland General Electric by 44.0% during 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 last quarter. Xponance Inc. boosted its stake in shares of Portland General Electric by 2.0% during the 4th quarter. Xponance Inc. now owns 14,629 shares of the utilities provider’s stock valued at $634,000 after buying an additional 282 shares during the last quarter. Strs Ohio boosted its stake in shares of Portland General Electric by 3.3% during the 4th quarter. Strs Ohio now owns 9,500 shares of the utilities provider’s stock valued at $411,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Portland General Electric by 7.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,566 shares of the utilities provider’s stock valued at $185,000 after buying an additional 325 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Portland General Electric by 1.7% during the 3rd quarter. State of Michigan Retirement System now owns 24,200 shares of the utilities provider’s stock valued at $980,000 after buying an additional 400 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on POR shares. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Bank of America cut Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Mizuho restated a “neutral” rating and set a $42.00 price objective (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays reduced their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.13.

Insider Activity

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

Portland General Electric Stock Performance

POR stock opened at $43.23 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 16.56 and a beta of 0.57. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The stock’s fifty day moving average is $41.47 and its two-hundred day moving average is $41.52.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. On average, research analysts predict that Portland General Electric will post 3.07 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.63%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. Portland General Electric’s dividend payout ratio (DPR) is 72.80%.

About Portland General Electric

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.