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

IFM Investors Pty Ltd boosted its stake in shares of Portland General Electric (NYSE:POR) by 3.3% during the 1st quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in POR. Johnson Financial Group Inc. bought a new position in shares of Portland General Electric during the fourth quarter worth about $25,000. Fifth Third Bancorp increased its position in Portland General Electric by 181.8% during the 4th quarter. Fifth Third Bancorp now owns 634 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 409 shares during the period. Spirit of America Management Corp NY bought a new position in Portland General Electric during the 3rd quarter worth approximately $32,000. BKM Wealth Management LLC acquired a new position in shares of Portland General Electric in the 4th quarter worth approximately $33,000. Finally, Mather Group LLC. acquired a new position in shares of Portland General Electric in the 1st quarter worth approximately $34,000.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Barclays lowered their price objective on 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. UBS Group raised Portland General Electric from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $47.00 to $45.00 in a research note on Monday, January 29th. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Mizuho reissued a “neutral” rating and issued a $42.00 price target (down from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.13.

Portland General Electric Stock Down 1.0 %

Shares of POR traded down $0.45 during trading hours on Friday, hitting $42.80. The stock had a trading volume of 1,517,939 shares, compared to its average volume of 881,118. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. 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 has a 50 day simple moving average of $41.37 and a 200-day simple moving average of $41.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $828.94 million. During the same quarter last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Portland General Electric will post 3.07 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.50 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, June 21st. This represents a $2.00 annualized dividend and a yield of 4.67%. Portland General Electric’s dividend payout ratio is presently 72.80%.

Insider Buying and Selling at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of Portland General Electric stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the transaction, the chief operating officer now directly owns 31,950 shares in the company, valued at $1,297,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% 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.