Versor Investments LP Has $1.22 Million Stock Holdings in Portland General Electric (NYSE:POR)

Versor Investments LP trimmed its stake in shares of Portland General Electric (NYSE:POR) by 11.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,906 shares of the utilities provider’s stock after selling 3,562 shares during the quarter. Versor Investments LP’s holdings in Portland General Electric were worth $1,217,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after acquiring an additional 66,438 shares during the last quarter. Geode Capital Management LLC grew its holdings in Portland General Electric by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its holdings in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after acquiring an additional 952,214 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after acquiring an additional 138,831 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Portland General Electric by 4.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after acquiring an additional 51,936 shares during the last quarter.

Portland General Electric Stock Down 0.3 %

Shares of NYSE POR opened at $44.10 on Friday. The firm has a market cap of $4.82 billion, a PE ratio of 14.65, a P/E/G ratio of 1.11 and a beta of 0.61. Portland General Electric has a 12-month low of $39.49 and a 12-month high of $49.85. The company’s fifty day simple moving average is $42.40 and its 200 day simple moving average is $45.55. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last released its quarterly earnings data 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 net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, sell-side analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 annualized dividend and a yield of 4.54%. Portland General Electric’s payout ratio is 66.45%.

Insiders Place Their Bets

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the transaction, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

POR has been the topic of a number of analyst reports. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. 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. KeyCorp reduced their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Bank of America reduced their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Finally, Barclays reduced their price objective on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.44.

About Portland General Electric

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.