Vestcor Inc Purchases Shares of 6,836 Portland General Electric (NYSE:POR)

Vestcor Inc acquired a new position in Portland General Electric (NYSE:POR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,836 shares of the utilities provider’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in Portland General Electric in the 4th quarter valued at $29,000. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 450 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Portland General Electric by 1,538.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of Portland General Electric during the fourth quarter valued at about $71,000.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares of the company’s stock, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Portland General Electric Stock Down 0.2 %

POR opened at $44.79 on Tuesday. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The company has a market cap of $4.90 billion, a PE ratio of 14.88, a price-to-earnings-growth 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. The company has a 50 day moving average of $42.63 and a 200 day moving average of $45.30.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million during the quarter, compared to analyst estimates 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 period last year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Wall Street Analyst Weigh In

POR has been the topic of several recent analyst reports. Bank of America dropped their target price on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp cut 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. Barclays lifted their target price on 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 increased their price target on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group decreased their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $47.00.

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.