Teacher Retirement System of Texas lifted its holdings in shares of Portland General Electric (NYSE:POR – Free Report) by 27.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,194 shares of the utilities provider’s stock after acquiring an additional 4,323 shares during the period. Teacher Retirement System of Texas’ holdings in Portland General Electric were worth $946,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Xponance Inc. boosted its holdings in shares of Portland General Electric by 1.5% during the second quarter. Xponance Inc. now owns 14,162 shares of the utilities provider’s stock worth $663,000 after purchasing an additional 211 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Portland General Electric by 4.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,617 shares of the utilities provider’s stock valued at $275,000 after acquiring an additional 237 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Portland General Electric by 4.4% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,617 shares of the utilities provider’s stock valued at $275,000 after acquiring an additional 237 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Portland General Electric by 6.4% in the first quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 264 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Portland General Electric by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 34,001 shares of the utilities provider’s stock valued at $1,477,000 after acquiring an additional 268 shares during the last quarter.
Portland General Electric Stock Up 1.2 %
Shares of NYSE POR opened at $41.13 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 0.89. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.53 and a beta of 0.57. Portland General Electric has a 1 year low of $38.01 and a 1 year high of $51.58. The stock’s 50-day simple moving average is $43.78 and its 200-day simple moving average is $47.12.
Portland General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, September 22nd. Portland General Electric’s dividend payout ratio is currently 79.17%.
Insider Activity at Portland General Electric
In related news, VP Anne Frances Mersereau sold 1,071 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $46.83, for a total value of $50,154.93. Following the completion of the sale, the vice president now directly owns 17,962 shares of the company’s stock, valued at $841,160.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. 58.com reiterated a “downgrade” rating on shares of Portland General Electric in a report on Tuesday, June 20th. Guggenheim reduced their target price on Portland General Electric from $48.00 to $45.00 in a report on Monday. Bank of America reduced their target price on Portland General Electric from $56.00 to $52.00 in a report on Thursday, June 22nd. TheStreet cut Portland General Electric from a “b-” rating to a “c+” rating in a report on Wednesday, September 13th. Finally, Barclays began coverage on Portland General Electric in a research note on Wednesday, August 23rd. They set an “equal weight” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.13.
Read Our Latest Research Report on POR
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, 2022, the company owned an electric transmission system consisting of 1,255 circuit miles, including 269 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 573 miles of 115 kilovolt line; and served 926 thousand retail customers in 51 cities.
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