Principal Financial Group Inc. Has $77.91 Million Stock Position in Portland General Electric (NYSE:POR)

Principal Financial Group Inc. lessened its holdings in shares of Portland General Electric (NYSE:POR) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,626,553 shares of the utilities provider’s stock after selling 247,146 shares during the period. Principal Financial Group Inc. owned 1.54% of Portland General Electric worth $77,912,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of POR. V Square Quantitative Management LLC acquired a new position in Portland General Electric during the 3rd quarter worth about $25,000. Allworth Financial LP lifted its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Portland General Electric in the second quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Portland General Electric during the 2nd quarter valued at approximately $40,000.

Analysts Set New Price Targets

A number of research firms have recently commented on POR. Barclays reduced their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. KeyCorp decreased their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Bank of America assumed coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price objective on the stock. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average price target of $49.13.

Portland General Electric Trading Up 0.3 %

Shares of Portland General Electric stock opened at $44.03 on Friday. The stock has a market capitalization of $4.64 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The stock has a 50 day moving average price of $46.88 and a two-hundred day moving average price of $46.29. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same quarter last year, the firm posted $0.46 EPS. Portland General Electric’s revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.54%. Portland General Electric’s payout ratio is 59.70%.

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.