LSV Asset Management Purchases New Stake in Portland General Electric (NYSE:POR)

LSV Asset Management acquired a new position in Portland General Electric (NYSE:POR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 268,800 shares of the utilities provider's stock, valued at approximately $11,725,000. LSV Asset Management owned approximately 0.25% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of POR. Y Intercept Hong Kong Ltd acquired a new stake in shares of Portland General Electric in the third quarter valued at about $596,000. Nordea Investment Management AB boosted its stake in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider's stock worth $43,058,000 after acquiring an additional 19,057 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock worth $7,289,000 after acquiring an additional 81,701 shares during the period. Synergy Asset Management LLC increased its stake in Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock valued at $5,096,000 after purchasing an additional 82,743 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Portland General Electric by 13.2% during the fourth quarter. Blair William & Co. IL now owns 5,925 shares of the utilities provider's stock worth $258,000 after purchasing an additional 692 shares during the last quarter.

Portland General Electric Trading Down 0.0 %

POR stock traded down $0.01 during midday trading on Friday, reaching $42.99. 932,282 shares of the company's stock traded hands, compared to its average volume of 1,027,499. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The business has a 50-day moving average price of $43.49 and a two-hundred day moving average price of $44.51. The company has a market capitalization of $4.71 billion, a P/E ratio of 14.28, a PEG ratio of 1.11 and a beta of 0.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.92 and a quick ratio of 0.81.

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 for the quarter, topping 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 company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, March 24th. Portland General Electric's dividend payout ratio (DPR) is 66.45%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company's stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on POR. StockNews.com cut Portland General Electric from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Jefferies Financial Group lowered their price target on shares of 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. Bank of America cut their price objective on 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research report on Thursday, April 10th. 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 research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.