First Citizens Bank & Trust Co. Purchases New Holdings in Portland General Electric Company $POR

First Citizens Bank & Trust Co. acquired a new position in shares of Portland General Electric Company (NYSE:POR) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 11,897 shares of the utilities provider’s stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Portland General Electric by 24.1% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock worth $221,810,000 after purchasing an additional 1,058,623 shares during the last quarter. State Street Corp increased its stake in Portland General Electric by 2.4% in the 2nd quarter. State Street Corp now owns 4,551,369 shares of the utilities provider’s stock valued at $187,200,000 after buying an additional 107,717 shares during the period. Massachusetts Financial Services Co. MA raised its position in Portland General Electric by 23.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,985,941 shares of the utilities provider’s stock worth $131,381,000 after buying an additional 564,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Portland General Electric by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,764,380 shares of the utilities provider’s stock worth $112,337,000 after acquiring an additional 110,567 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Portland General Electric by 7.3% in the second quarter. Invesco Ltd. now owns 2,449,960 shares of the utilities provider’s stock valued at $99,542,000 after acquiring an additional 167,447 shares in the last quarter.

Portland General Electric Stock Performance

POR opened at $50.48 on Wednesday. Portland General Electric Company has a 1-year low of $39.54 and a 1-year high of $51.14. The stock has a market cap of $5.68 billion, a P/E ratio of 18.36, a P/E/G ratio of 4.35 and a beta of 0.67. The stock’s 50 day simple moving average is $48.93 and its 200 day simple moving average is $45.47. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95.

Portland General Electric (NYSE:POR) last posted its earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. During the same period in the previous year, the business earned $0.90 earnings per share. Portland General Electric’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Analyst Ratings Changes

POR has been the subject of several analyst reports. BMO Capital Markets reissued a “market perform” rating on shares of Portland General Electric in a report on Tuesday, December 30th. JPMorgan Chase & Co. increased their target price on Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. Loop Capital set a $48.00 price objective on Portland General Electric in a report on Tuesday, December 30th. Finally, BTIG Research reiterated a “buy” rating on shares of Portland General Electric in a research report on Tuesday, December 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.92.

Portland General Electric Company Profile

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.