Texas Permanent School Fund Corp Lowers Position in Portland General Electric Company $POR

Texas Permanent School Fund Corp trimmed its position in shares of Portland General Electric Company (NYSE:POR) by 24.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,359 shares of the utilities provider’s stock after selling 11,456 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Portland General Electric were worth $1,437,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in POR. IFP Advisors Inc grew its position in Portland General Electric by 1,291.7% during the second quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock valued at $27,000 after buying an additional 620 shares during the period. S.A. Mason LLC purchased a new stake in shares of Portland General Electric during the 2nd quarter worth about $29,000. Bell Investment Advisors Inc grew its position in shares of Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 370 shares during the period. Tompkins Financial Corp increased its stake in shares of Portland General Electric by 83.3% in the 2nd quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 500 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Portland General Electric in the 2nd quarter valued at about $51,000.

Portland General Electric Stock Down 0.3%

NYSE POR opened at $47.33 on Wednesday. The business has a fifty day moving average price of $47.98 and a 200 day moving average price of $44.04. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08. The company has a market cap of $5.32 billion, a P/E ratio of 17.21, a P/E/G ratio of 4.34 and a beta of 0.67. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14.

Portland General Electric (NYSE:POR) last announced its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $975.64 million. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is 76.36%.

Analyst Ratings Changes

A number of brokerages have issued reports on POR. BTIG Research upgraded Portland General Electric to a “strong-buy” rating in a research report on Wednesday, October 22nd. Mizuho set a $47.00 target price on Portland General Electric in a research report on Monday, November 3rd. UBS Group dropped their price target on shares of Portland General Electric from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Wells Fargo & Company started coverage on shares of Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $47.55.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.