Channing Capital Management LLC Has $79.91 Million Stock Position in Portland General Electric (NYSE:POR)

Channing Capital Management LLC raised its stake in shares of Portland General Electric (NYSE:POR - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,831,864 shares of the utilities provider's stock after purchasing an additional 123,223 shares during the period. Portland General Electric accounts for 2.1% of Channing Capital Management LLC's portfolio, making the stock its 17th largest holding. Channing Capital Management LLC owned 1.74% of Portland General Electric worth $79,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock valued at $199,509,000 after acquiring an additional 66,438 shares during the period. Geode Capital Management LLC increased its holdings in Portland General Electric by 1.0% in 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 buying an additional 25,332 shares during the period. Zimmer Partners LP raised its stake in shares of Portland General Electric by 107.0% in the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock valued at $88,258,000 after buying an additional 952,214 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Portland General Electric by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider's stock worth $74,863,000 after acquiring an additional 138,831 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Portland General Electric by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,313,282 shares of the utilities provider's stock worth $57,285,000 after acquiring an additional 35,216 shares during the period.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research report on Tuesday, December 24th. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Jefferies Financial Group decreased their price target 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. UBS Group reiterated a "neutral" rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $47.00.

Portland General Electric Price Performance

Shares of POR traded up $0.79 during mid-day trading on Thursday, hitting $44.36. 1,005,523 shares of the company traded hands, compared to its average volume of 1,161,588. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average of $42.55 and a 200 day moving average of $45.37. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric's payout ratio is 66.45%.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the transaction, the chief financial officer now directly owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.