IFM Investors Pty Ltd Has $591,000 Holdings in Portland General Electric (NYSE:POR)

IFM Investors Pty Ltd grew its position in shares of Portland General Electric (NYSE:POR) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,083 shares of the utilities provider’s stock after buying an additional 445 shares during the quarter. IFM Investors Pty Ltd’s holdings in Portland General Electric were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. National Bank of Canada FI bought a new stake in Portland General Electric during the 3rd quarter worth approximately $857,000. SG Americas Securities LLC bought a new stake in shares of Portland General Electric during the third quarter worth $1,825,000. Spirit of America Management Corp NY acquired a new stake in shares of Portland General Electric in the third quarter valued at $32,000. PATRIZIA Pty Ltd raised its holdings in shares of Portland General Electric by 2.0% in the third quarter. PATRIZIA Pty Ltd now owns 225,279 shares of the utilities provider’s stock valued at $9,119,000 after buying an additional 4,493 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Portland General Electric by 2.7% in the third quarter. Brown Advisory Inc. now owns 700,408 shares of the utilities provider’s stock valued at $28,353,000 after buying an additional 18,089 shares during the last quarter.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have weighed in on POR. Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Mizuho reaffirmed a “neutral” rating and set a $42.00 price target (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Bank of America lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $43.00 in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.13.

Portland General Electric Trading Down 1.0 %

Shares of Portland General Electric stock traded down $0.45 during trading on Friday, hitting $42.80. 1,517,939 shares of the company were exchanged, compared to its average volume of 881,118. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. The firm has a market capitalization of $4.33 billion, a P/E ratio of 16.40 and a beta of 0.57. The firm’s fifty day moving average price is $41.37 and its 200 day moving average price is $41.50. 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 issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, sell-side analysts expect that Portland General Electric will post 3.07 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.00 dividend on an annualized basis and a yield of 4.67%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is presently 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.