Brandywine Global Investment Management LLC increased its position in shares of Portland General Electric (NYSE:POR - Free Report) by 1,510.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,126 shares of the utilities provider's stock after acquiring an additional 336,823 shares during the quarter. Brandywine Global Investment Management LLC owned 0.34% of Portland General Electric worth $15,665,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in POR. Vanguard Group Inc. lifted its holdings in shares of Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after purchasing an additional 572,531 shares in the last quarter. State Street Corp lifted its stake in Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock worth $199,509,000 after acquiring an additional 66,438 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Portland General Electric by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,333,393 shares of the utilities provider's stock worth $145,403,000 after acquiring an additional 93,903 shares during the period. Geode Capital Management LLC grew its stake in Portland General Electric by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider's stock valued at $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Finally, Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock worth $88,258,000 after purchasing an additional 952,214 shares in the last quarter.
Wall Street Analyst Weigh In
POR has been the topic of several research reports. KeyCorp dropped their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH lowered Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price target for the company. in a report on Tuesday, February 18th. Bank of America dropped their price objective on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a report on Tuesday, December 24th. Finally, UBS Group reiterated a "neutral" rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $47.00.
Read Our Latest Research Report on Portland General Electric
Insider Buying and Selling
In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.40% of the company's stock.
Portland General Electric Stock Performance
NYSE POR traded up $0.05 during trading on Thursday, hitting $44.68. The company's stock had a trading volume of 810,335 shares, compared to its average volume of 1,011,708. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The firm has a market cap of $4.89 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The firm has a 50 day moving average price of $43.18 and a 200 day moving average price of $44.97. 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 (NYSE:POR - Get Free Report) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating 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 firm had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. During the same period in the prior year, the company earned $0.67 EPS. Equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current fiscal year.
Portland General Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, March 24th. Portland General Electric's dividend payout ratio is 66.45%.
Portland General Electric Profile
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Free Report)
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.
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