Ensign Peak Advisors Inc Has $3.26 Million Stock Holdings in Portland General Electric (NYSE:POR)

Ensign Peak Advisors Inc raised its stake in Portland General Electric (NYSE:POR) by 19.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,637 shares of the utilities provider’s stock after acquiring an additional 12,390 shares during the period. Ensign Peak Advisors Inc’s holdings in Portland General Electric were worth $3,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC raised its holdings in Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Blair William & Co. IL raised its holdings 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 acquiring an additional 692 shares in the last quarter. American Century Companies Inc. raised its holdings in Portland General Electric by 3.7% in the 4th quarter. American Century Companies Inc. now owns 141,367 shares of the utilities provider’s stock valued at $6,166,000 after acquiring an additional 5,084 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Portland General Electric by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider’s stock worth $14,076,000 after buying an additional 4,195 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Portland General Electric by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 93,330 shares of the utilities provider’s stock worth $4,071,000 after buying an additional 9,715 shares in the last quarter.

Wall Street Analyst Weigh In

POR has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on Portland General Electric from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Jefferies Financial Group lowered their price target on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. KeyCorp cut Portland General Electric from an “overweight” rating to a “sector weight” rating and set a $51.00 target price for the company. in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on Portland General Electric in a report on Tuesday. They issued a “market perform” rating and a $46.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.45.

Portland General Electric Trading Down 1.1%

NYSE POR opened at $41.05 on Thursday. The business’s 50-day moving average price is $43.07 and its two-hundred day moving average price is $43.83. Portland General Electric has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market capitalization of $4.50 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $977.02 million. During the same quarter last year, the firm posted $1.21 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th will be given a dividend of $0.525 per share. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 5.12%. Portland General Electric’s dividend payout ratio is presently 73.94%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’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 sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president now owns 32,646 shares in the company, valued at approximately $1,404,430.92. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,795 shares of company stock worth $159,946 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

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.