Principal Financial Group Inc. Has $66.55 Million Holdings in Portland General Electric (NYSE:POR)

Principal Financial Group Inc. cut its stake in Portland General Electric (NYSE:POR) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,525,765 shares of the utilities provider’s stock after selling 100,788 shares during the period. Principal Financial Group Inc.’s holdings in Portland General Electric were worth $66,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP lifted its position in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric in the fourth quarter worth $29,000. Versant Capital Management Inc boosted its stake in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares in the last quarter. USA Financial Formulas bought a new stake in Portland General Electric in the 4th quarter valued at $71,000. Finally, International Assets Investment Management LLC raised its stake in shares of Portland General Electric by 4,690.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,970 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’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 of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Portland General Electric Stock Up 1.3 %

NYSE:POR opened at $43.36 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. Portland General Electric has a 52-week low of $39.49 and a 52-week high of $49.85. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.06 and a beta of 0.61. The stock’s fifty day moving average price is $42.41 and its two-hundred day moving average price is $45.62.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period in the prior year, the business posted $0.67 earnings per share. On average, analysts anticipate that Portland General Electric will post 3.2 EPS for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group dropped their target price 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. Barclays cut their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.44.

Portland General Electric Company 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.