MetLife Investment Management LLC Has $5.22 Million Position in Portland General Electric (NYSE:POR)

MetLife Investment Management LLC increased its holdings in Portland General Electric (NYSE:POR) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 119,551 shares of the utilities provider’s stock after buying an additional 9,515 shares during the quarter. MetLife Investment Management LLC’s holdings in Portland General Electric were worth $5,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in POR. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc grew its position in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. raised its stake in Portland General Electric by 1,538.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 769 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Portland General Electric during the fourth quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,096 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. UBS Group reissued a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays raised their price target on Portland General Electric from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $44.00 price objective (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Finally, Evercore ISI raised their target price on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $45.89.

Insider Transactions at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred 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 of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total transaction of $79,371.90. Following the transaction, the executive vice president now owns 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,795 shares of company stock worth $159,946 in the last three months. Insiders own 0.40% of the company’s stock.

Portland General Electric Price Performance

Shares of POR stock opened at $43.29 on Thursday. 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 has a 12 month low of $40.05 and a 12 month high of $49.85. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.11 and a beta of 0.49. The stock has a 50-day moving average price of $43.59 and a 200 day moving average price of $44.40.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS 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 company had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. During the same quarter in the previous year, the company earned $0.67 EPS. Research analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.50. Portland General Electric’s dividend payout ratio is 66.45%.

Portland General Electric 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.