Assenagon Asset Management S.A. Buys Shares of 84,085 Portland General Electric (NYSE:POR)

Assenagon Asset Management S.A. bought a new stake in shares of Portland General Electric (NYSE:PORFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 84,085 shares of the utilities provider’s stock, valued at approximately $3,644,000. Assenagon Asset Management S.A. owned 0.08% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC bought a new position in Portland General Electric during the 4th quarter valued at about $33,000. IMA Wealth Inc. lifted its stake in Portland General Electric by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 786 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 393 shares during the period. Spirit of America Management Corp NY bought a new position in Portland General Electric during the 3rd quarter valued at about $32,000. C M Bidwell & Associates Ltd. bought a new position in Portland General Electric during the 2nd quarter valued at about $39,000. Finally, Allworth Financial LP lifted its stake in Portland General Electric by 44.0% during the 3rd quarter. Allworth Financial LP now owns 854 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 261 shares during the period.

Portland General Electric Price Performance

NYSE POR opened at $41.95 on Tuesday. Portland General Electric has a 12 month low of $38.01 and a 12 month high of $51.58. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.67 and a beta of 0.57. The company’s 50 day moving average is $40.83 and its two-hundred day moving average is $41.50. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:PORGet Free Report) last released its earnings results on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.20). Portland General Electric had a return on equity of 7.21% and a net margin of 7.80%. The firm had revenue of $725.00 million for the quarter, compared to the consensus estimate of $740.21 million. During the same quarter in the previous year, the business posted $0.70 EPS. Portland General Electric’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Portland General Electric will post 3.06 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 22nd will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Thursday, March 21st. Portland General Electric’s dividend payout ratio (DPR) is currently 81.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on POR shares. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $47.00 to $45.00 in a research note on Monday, January 29th. Mizuho reiterated a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a research note on Tuesday, February 20th. Barclays lowered their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $43.00 in a research note on Monday, February 5th. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.13.

View Our Latest Report on Portland General Electric

Portland General Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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