Portland General Electric (NYSE:POR) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its stake in Portland General Electric (NYSE:POR - Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,527 shares of the utilities provider's stock after acquiring an additional 10,644 shares during the quarter. Congress Asset Management Co. owned about 0.13% of Portland General Electric worth $5,781,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of POR. Creative Planning grew its holdings in shares of Portland General Electric by 5.4% during the 3rd quarter. Creative Planning now owns 25,426 shares of the utilities provider's stock worth $1,218,000 after purchasing an additional 1,297 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric during the 3rd quarter worth $25,000. Blue Trust Inc. grew its holdings in shares of Portland General Electric by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 2,195 shares of the utilities provider's stock worth $105,000 after purchasing an additional 1,267 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Portland General Electric during the 3rd quarter worth $595,000. Finally, Whittier Trust Co. grew its holdings in shares of Portland General Electric by 4.9% during the 3rd quarter. Whittier Trust Co. now owns 104,346 shares of the utilities provider's stock worth $4,998,000 after purchasing an additional 4,838 shares during the period.

Portland General Electric Stock Up 1.3 %

Shares of POR traded up $0.56 during midday trading on Friday, hitting $44.36. The company had a trading volume of 1,020,832 shares, compared to its average volume of 1,182,771. The company's 50-day simple moving average is $42.39 and its 200-day simple moving average is $45.61. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a market capitalization of $4.85 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.10 and a beta of 0.61. Portland General Electric has a 1 year low of $39.49 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $824.00 million during the quarter, compared to analysts' expectations of $716.17 million. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. During the same quarter last year, the business posted $0.67 EPS. As a group, sell-side analysts expect that Portland General Electric will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The business 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 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric's payout ratio is presently 66.45%.

Insider Transactions at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm'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 sale, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Portland General Electric from $48.00 to $42.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Evercore ISI raised their target price on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. LADENBURG THALM/SH SH cut Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday. Finally, KeyCorp lowered 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $46.44.

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.