Portland General Electric (NYSE:POR) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Portland General Electric (NYSE:POR - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 474,792 shares of the utilities provider's stock after acquiring an additional 29,820 shares during the period. Envestnet Asset Management Inc. owned 0.45% of Portland General Electric worth $20,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Portland General Electric by 0.8% during the fourth quarter. Arizona State Retirement System now owns 29,912 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 245 shares in the last quarter. Choreo LLC raised its stake in Portland General Electric by 1.4% during the 4th quarter. Choreo LLC now owns 26,511 shares of the utilities provider's stock worth $1,166,000 after acquiring an additional 371 shares in the last quarter. Versant Capital Management Inc lifted its position in Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 450 shares during the last quarter. Trust Co. of Vermont boosted its stake in Portland General Electric by 5.8% in the fourth quarter. Trust Co. of Vermont now owns 8,536 shares of the utilities provider's stock valued at $372,000 after acquiring an additional 465 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Portland General Electric by 2.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,503 shares of the utilities provider's stock worth $938,000 after purchasing an additional 500 shares during the last quarter.

Insider Activity at Portland General Electric

In related news, EVP Benjamin Felton sold 1,845 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the completion of the transaction, the executive vice president now directly owns 32,646 shares of the company's stock, valued at $1,404,430.92. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at approximately $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,795 shares of company stock worth $159,946 over the last 90 days. Company insiders own 0.40% of the company's stock.

Portland General Electric Stock Performance

NYSE POR traded down $0.01 during trading hours on Friday, hitting $42.99. 932,282 shares of the stock were exchanged, compared to its average volume of 1,028,136. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85. The stock has a 50-day moving average of $43.51 and a 200 day moving average of $44.45.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the business posted $0.67 EPS. As a group, equities research analysts forecast that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th were issued a $0.50 dividend. The ex-dividend date was Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. Portland General Electric's dividend payout ratio is presently 66.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on POR. Barclays boosted their target price on Portland General Electric from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. StockNews.com downgraded Portland General Electric from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Bank of America cut their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a report on Tuesday, December 24th. Jefferies Financial Group decreased their price target on shares of Portland General Electric from $47.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH lowered shares of Portland General Electric from a "buy" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average target price of $45.78.

About Portland General Electric

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.