Goldman Sachs Group Inc. Has $196.09 Million Position in Portland General Electric (NYSE:POR)

Goldman Sachs Group Inc. boosted its stake in shares of Portland General Electric (NYSE:POR) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,524,435 shares of the utilities provider’s stock after purchasing an additional 1,017,503 shares during the period. Goldman Sachs Group Inc. owned 4.47% of Portland General Electric worth $196,089,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Portland General Electric by 6.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,758,995 shares of the utilities provider’s stock worth $119,575,000 after purchasing an additional 161,432 shares during the period. Principal Financial Group Inc. increased its stake in shares of Portland General Electric by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,966,720 shares of the utilities provider’s stock worth $85,238,000 after purchasing an additional 100,496 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Portland General Electric by 12.8% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,944,864 shares of the utilities provider’s stock worth $78,728,000 after purchasing an additional 220,674 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Portland General Electric by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,420,243 shares of the utilities provider’s stock worth $61,554,000 after purchasing an additional 140,151 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Portland General Electric by 24.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 shares during the period.

Insider Transactions at Portland General Electric

In other news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Benjamin Felton sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total value of $142,100.00. Following the transaction, the chief operating officer now owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Angelica Espinosa sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.30, for a total value of $88,600.00. Following the completion of the transaction, the senior vice president now owns 16,763 shares in the company, valued at approximately $742,600.90. The disclosure for this sale can be found here. Insiders have sold 6,463 shares of company stock worth $274,064 in the last 90 days. Insiders own 0.54% of the company’s stock.

Portland General Electric Trading Down 0.2 %

Shares of POR stock traded down $0.09 during mid-day trading on Friday, hitting $42.67. The company’s stock had a trading volume of 679,386 shares, compared to its average volume of 779,275. The company’s fifty day simple moving average is $43.31 and its 200-day simple moving average is $42.24. Portland General Electric has a 52 week low of $38.01 and a 52 week high of $49.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The company has a market cap of $4.40 billion, a PE ratio of 16.35 and a beta of 0.58.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, April 26th. The utilities provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.12. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities research analysts expect that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Monday, June 24th. This is an increase from Portland General Electric’s previous quarterly dividend of $0.48. Portland General Electric’s payout ratio is presently 72.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Mizuho raised their price objective on Portland General Electric from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Barclays lowered their price objective on Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Finally, StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

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.