Portland General Electric (NYSE:POR) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in shares of Portland General Electric (NYSE:POR) by 29.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 980,752 shares of the utilities provider’s stock after acquiring an additional 223,147 shares during the period. Thrivent Financial for Lutherans’ holdings in Portland General Electric were worth $42,780,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on 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 directly owns 31,960 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by insiders.

Portland General Electric Stock Down 0.6 %

Shares of Portland General Electric stock opened at $44.29 on Thursday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a twelve month low of $40.05 and a twelve month high of $49.85. 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 business’s 50 day simple moving average is $42.71 and its 200-day simple moving average is $45.27.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same period last year, the company earned $0.67 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is 66.45%.

Analyst Ratings Changes

A number of research analysts have commented on POR shares. Jefferies Financial Group reduced their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. UBS Group reaffirmed a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Bank of America lowered their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Barclays boosted their price target on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $47.00.

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.