Envestnet Asset Management Inc. Cuts Holdings in Portland General Electric Company $POR

Envestnet Asset Management Inc. reduced its holdings in shares of Portland General Electric Company (NYSE:POR) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 458,339 shares of the utilities provider’s stock after selling 55,059 shares during the period. Envestnet Asset Management Inc. owned about 0.42% of Portland General Electric worth $20,167,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Connable Office Inc. lifted its position in Portland General Electric by 5.1% in the second quarter. Connable Office Inc. now owns 6,564 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 318 shares during the last quarter. State of Wyoming increased its stake in shares of Portland General Electric by 2.3% in the third quarter. State of Wyoming now owns 15,210 shares of the utilities provider’s stock worth $669,000 after buying an additional 345 shares during the period. California State Teachers Retirement System raised its holdings in Portland General Electric by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 101,342 shares of the utilities provider’s stock valued at $4,118,000 after buying an additional 361 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after buying an additional 370 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Portland General Electric by 2.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,302 shares of the utilities provider’s stock valued at $825,000 after buying an additional 424 shares during the period.

Portland General Electric Stock Up 2.9%

POR opened at $54.04 on Friday. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 4.73 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08. The firm’s fifty day moving average is $49.28 and its 200 day moving average is $46.38. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $54.28.

Wall Street Analyst Weigh In

POR has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Portland General Electric in a research report on Tuesday, December 30th. Barclays increased their price target on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Wells Fargo & Company upped their target price on Portland General Electric from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. Loop Capital set a $48.00 target price on Portland General Electric in a research note on Tuesday, December 30th. Finally, LADENBURG THALM/SH SH restated a “sell” rating and set a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.42.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.