Massachusetts Financial Services Co. MA Reduces Stock Holdings in Portland General Electric (NYSE:POR)

Massachusetts Financial Services Co. MA lessened its stake in Portland General Electric (NYSE:POR) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,665,276 shares of the utilities provider’s stock after selling 24,072 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.53% of Portland General Electric worth $116,259,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock valued at $519,651,000 after purchasing an additional 572,531 shares during the period. State Street Corp boosted its position in Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Portland General Electric by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider’s stock valued at $145,403,000 after acquiring an additional 93,903 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Portland General Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,491,658 shares of the utilities provider’s stock worth $108,710,000 after acquiring an additional 47,172 shares during the last quarter. Finally, Zimmer Partners LP lifted its stake in shares of Portland General Electric by 107.0% in the third 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 in the last quarter.

Portland General Electric Stock Down 3.6 %

NYSE:POR opened at $42.69 on Friday. 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 stock has a 50 day moving average of $43.28 and a 200-day moving average of $44.92. The firm has a market capitalization of $4.68 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85.

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. Analysts predict that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 66.45%.

Insider Buying and Selling at Portland General Electric

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 company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on POR. Evercore ISI lifted their price objective on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. 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. Barclays boosted their target price on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group reduced their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.00.

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.