Vaughan Nelson Investment Management L.P. Boosts Stake in Portland General Electric (NYSE:POR)

Vaughan Nelson Investment Management L.P. raised its position in Portland General Electric (NYSE:POR - Free Report) by 72.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259,845 shares of the utilities provider's stock after buying an additional 530,020 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.19% of Portland General Electric worth $60,346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock valued at $65,234,000 after purchasing an additional 86,718 shares during the period. HITE Hedge Asset Management LLC increased its stake in Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock worth $64,216,000 after acquiring an additional 97,922 shares during the last quarter. Victory Capital Management Inc. increased its stake in Portland General Electric by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,076,806 shares of the utilities provider's stock worth $46,561,000 after acquiring an additional 69,392 shares during the last quarter. Leeward Investments LLC MA increased its stake in Portland General Electric by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 553,673 shares of the utilities provider's stock worth $23,941,000 after acquiring an additional 29,441 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Portland General Electric by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 480,351 shares of the utilities provider's stock worth $20,175,000 after purchasing an additional 55,555 shares in the last quarter.

Insider Activity at Portland General Electric

In related news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares of the company's stock, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Portland General Electric Trading Up 1.7 %

POR traded up $0.76 during midday trading on Friday, reaching $46.65. 1,042,136 shares of the company's stock traded hands, compared to its average volume of 1,003,123. The firm has a fifty day moving average of $47.55 and a two-hundred day moving average of $45.95. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. Portland General Electric's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric's dividend payout ratio is currently 59.70%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. KeyCorp upgraded Portland General Electric from a "sector weight" rating to an "overweight" rating in a report on Monday, July 22nd. Evercore ISI assumed coverage on Portland General Electric in a report on Wednesday, September 25th. They set an "outperform" rating and a $54.00 target price for the company. Finally, Bank of America assumed coverage on Portland General Electric in a report on Thursday, September 12th. They set an "underperform" rating and a $47.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and a consensus price target of $48.86.

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.