Assenagon Asset Management S.A. Takes Position in Portland General Electric (NYSE:POR)

Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric (NYSE:POR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 746,283 shares of the utilities provider's stock, valued at approximately $32,553,000. Assenagon Asset Management S.A. owned about 0.71% of Portland General Electric as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of POR. Allworth Financial LP lifted its holdings in shares of Portland General Electric by 74.4% during the 3rd 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. First Pacific Financial lifted its stake in Portland General Electric by 2.9% during the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider's stock worth $591,000 after purchasing an additional 347 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Portland General Electric by 20.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 413 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 450 shares during the period. Finally, Townsquare Capital LLC raised its stake in Portland General Electric by 6.4% during the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider's stock worth $364,000 after acquiring an additional 458 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 target price for the company. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a "hold" rating and a $48.00 target price for the company. KeyCorp decreased their target price on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. UBS Group reaffirmed a "neutral" rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Barclays decreased their price objective on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and a consensus target price of $48.88.

Portland General Electric Stock Down 0.2 %

POR stock traded down $0.08 during trading hours on Friday, reaching $41.87. 1,130,424 shares of the stock were exchanged, compared to its average volume of 1,363,302. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.03 and a beta of 0.60. The firm's 50-day moving average is $44.95 and its 200-day moving average is $46.26. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued 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 firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the business earned $0.46 EPS. The company's revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

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.