Portland General Electric Company (NYSE:POR) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Portland General Electric Company (NYSE:POR) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 486,645 shares of the utilities provider’s stock after buying an additional 11,853 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of Portland General Electric worth $21,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Portland General Electric in the 4th quarter worth approximately $62,004,000. Fuller & Thaler Asset Management Inc. boosted its position in Portland General Electric by 19.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider’s stock worth $172,720,000 after purchasing an additional 635,987 shares in the last quarter. Vanguard Group Inc. boosted its position in Portland General Electric by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after purchasing an additional 572,531 shares in the last quarter. Zimmer Partners LP boosted its position in Portland General Electric by 25.2% in the 4th quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider’s stock worth $100,598,000 after purchasing an additional 463,685 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in Portland General Electric by 1,510.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider’s stock worth $15,665,000 after purchasing an additional 336,823 shares in the last quarter.

Analyst Ratings Changes

POR has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Portland General Electric from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Barclays decreased their price objective on Portland General Electric from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on Portland General Electric from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, April 25th. Finally, UBS Group upgraded Portland General Electric from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $50.00 in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.60.

Portland General Electric Trading Down 1.9%

POR opened at $40.45 on Wednesday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. Portland General Electric Company has a 52 week low of $39.55 and a 52 week high of $49.85. The business’s 50 day moving average is $41.38 and its two-hundred day moving average is $42.30. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, research analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 24th were issued a $0.525 dividend. The ex-dividend date was Tuesday, June 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 5.19%. Portland General Electric’s dividend payout ratio (DPR) is 73.94%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, EVP Benjamin Felton sold 1,845 shares of the company’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $43.02, for a total value of $79,371.90. Following the sale, the executive vice president owned 32,646 shares of the company’s stock, valued at approximately $1,404,430.92. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.