Sterling Capital Management LLC Grows Position in Portland General Electric (NYSE:POR)

Sterling Capital Management LLC grew its holdings in Portland General Electric (NYSE:POR - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 117,920 shares of the utilities provider's stock after buying an additional 8,451 shares during the quarter. Sterling Capital Management LLC owned approximately 0.11% of Portland General Electric worth $5,144,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in POR. Y Intercept Hong Kong Ltd purchased a new stake in Portland General Electric in the third quarter worth $596,000. Nordea Investment Management AB increased its stake in shares of Portland General Electric by 2.0% in 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. lifted its position in Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider's stock valued at $7,289,000 after acquiring an additional 81,701 shares during the period. Synergy Asset Management LLC boosted its stake in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider's stock worth $5,096,000 after acquiring an additional 82,743 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Portland General Electric by 13.2% in 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 period.

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Wall Street Analysts Forecast Growth

Several analysts recently weighed in on POR shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Evercore ISI raised their price target on Portland General Electric from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Barclays upped their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. 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 for the company. in a research note on Tuesday, February 18th. Finally, UBS Group reiterated a "neutral" rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $45.78.

Portland General Electric Stock Performance

NYSE:POR traded down $0.15 on Wednesday, hitting $43.05. The stock had a trading volume of 757,286 shares, compared to its average volume of 1,196,126. Portland General Electric has a 52-week low of $40.05 and a 52-week high of $49.85. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.11 and a beta of 0.49. 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 business's 50-day simple moving average is $43.41 and its two-hundred day simple moving average is $44.55.

Portland General Electric (NYSE:POR - Get Free Report) last announced its 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. The company had revenue of $824.00 million during 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 period in the previous year, the business posted $0.67 earnings per share. As a group, research analysts predict that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Announces Dividend

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

Insiders Place Their Bets

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 completion of the transaction, the chief financial officer now owns 31,960 shares of the company's stock, valued at approximately $1,320,587.20. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company's stock.

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.