NYS Common Retirement Fund Reduces Holdings in Portland General Electric by 16.6% in Q1
August 9, 2023
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PORTLAND ($NYSE:POR): This divestment came as a surprise to many, as PGE had long been seen as a reliable dividend stock with a solid track record of consistent returns. It remains to be seen whether other investors will follow suit and reduce their holdings in PGE. However, despite the reduction in holdings from NYSCRF, PGE’s stock price remains relatively steady, indicating that it is still a strong investment option for those looking for a reliable dividend stock.
Analysis
GoodWhale conducted an analysis of PORTLAND GENERAL ELECTRIC’s fundamentals and, according to our Star Chart, PORTLAND GENERAL ELECTRIC is classified as ‘rhino’, indicating that it has achieved moderate revenue or earnings growth. We believe that this type of company may be of interest to investors looking for a steady income stream and a low to medium level of risk. In terms of financial health, PORTLAND GENERAL ELECTRIC has an intermediate score of 5/10, which suggests that it is likely to be able to pay off debt and fund future operations. Specifically, PORTLAND GENERAL ELECTRIC is strong in dividend, medium in growth, profitability and weak in asset. This indicates that the company might require additional capital in order to fund any major investments or expansion projects. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for POR. More…
| Total Revenues | Net Income | Net Margin |
| 2.83k | 222 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for POR. More…
| Operations | Investing | Financing |
| 366 | -998 | 554 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for POR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.37k | 7.17k | 32.37 |
Key Ratios Snapshot
Some of the financial key ratios for POR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.8% | -1.0% | 15.1% |
| FCF Margin | ROE | ROA |
| -22.2% | 8.4% | 2.6% |
Peers
In the electric power industry, competition is fierce between companies vying for market share. Portland General Electric (PGE) is no exception, facing stiff competition from WEC Energy Group, PNM Resources, and Korea Electric Power Corp. PGE has managed to stay ahead of the pack by offering competitive prices, reliable service, and a commitment to clean energy.
– WEC Energy Group Inc ($NYSE:WEC)
WEC Energy Group Inc is a diversified energy company with operations in electric and natural gas utilities, and non-utility energy businesses. The company’s electric and natural gas utilities include Wisconsin Electric, Wisconsin Gas, Peoples Gas, North Shore Gas, We Energies and Wisconsin Public Service. The company’s non-utility operations include We Power, Wispark LLC, Integrys Energy Services, Inc., and other investments.
– PNM Resources Inc ($NYSE:PNM)
PNM Resources Inc is a diversified energy holding company based in Albuquerque, New Mexico. The company operates two electric utilities, PNM and TNMP, which serve customers in New Mexico and Texas. PNM Resources also owns a natural gas utility, Texas-New Mexico Utilities, which serves customers in West Texas. In addition to its utilities business, the company owns an energy trading and marketing business, RRI Energy, and an energy services business, PNM Resources Services.
– Korea Electric Power Corp ($KOSE:015760)
Korea Electric Power Corp (KEPCO) is a South Korean electric utility company with a market capitalization of 10.75 trillion as of 2022. The company has a return on equity of -21.37%. KEPCO is involved in the generation, transmission, and distribution of electricity in South Korea. The company also has interests in nuclear power, new and renewable energy, and other businesses.
Summary
Analysts suggest that investors may be wary of the company’s near-term prospects, given its weak performance in the last quarter. However, the company has potential catalysts in higher electric rates, increasing renewables, and better economic conditions. Investors may be advised to research the company’s long-term performance and weigh the risks before taking a position in PGE. With the uncertainty surrounding the current market conditions, investors should exercise caution when investing in PGE.
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