JPMorgan Chase & Co. Has $145.40 Million Holdings in Portland General Electric (NYSE:POR)

JPMorgan Chase & Co. raised its position in shares of Portland General Electric (NYSE:POR - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,333,393 shares of the utilities provider's stock after purchasing an additional 93,903 shares during the quarter. JPMorgan Chase & Co. owned about 3.16% of Portland General Electric worth $145,403,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in Portland General Electric during the fourth quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 450 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 769 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Portland General Electric by 352.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider's stock worth $61,000 after purchasing an additional 1,096 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $71,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a report on Tuesday, December 24th. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group cut their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Evercore ISI upped 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, February 18th. Finally, UBS Group reissued a "neutral" rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $47.00.

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Portland General Electric Stock Down 0.7 %

NYSE:POR traded down $0.33 on Thursday, hitting $44.30. 1,897,739 shares of the company's stock traded hands, compared to its average volume of 1,015,519. 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 current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.85 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $824.00 million for the quarter, compared to analyst estimates of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter in the prior year, the business earned $0.67 EPS. Equities analysts anticipate that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.51%. Portland General Electric's payout ratio is 66.45%.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

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.