ProShare Advisors LLC Raises Stake in Portland General Electric Company $POR

ProShare Advisors LLC increased its stake in shares of Portland General Electric Company (NYSE:POR) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,040,367 shares of the utilities provider’s stock after buying an additional 111,417 shares during the period. ProShare Advisors LLC owned about 0.95% of Portland General Electric worth $45,776,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in POR. IFP Advisors Inc increased its stake in shares of Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Root Financial Partners LLC bought a new position in Portland General Electric during the third quarter valued at $27,000. Bell Investment Advisors Inc increased its position in Portland General Electric by 80.6% in the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after buying an additional 370 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Portland General Electric in the second quarter worth $51,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Portland General Electric by 35.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the utilities provider’s stock valued at $54,000 after buying an additional 323 shares during the period.

Portland General Electric Stock Down 0.1%

POR opened at $50.58 on Tuesday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 4.44 and a beta of 0.67. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.65. The company has a fifty day moving average price of $49.02 and a 200-day moving average price of $46.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Loop Capital set a $48.00 price objective on Portland General Electric in a report on Tuesday, December 30th. BMO Capital Markets reiterated a “market perform” rating on shares of Portland General Electric in a research report on Tuesday, December 30th. BTIG Research reissued a “buy” rating and issued a $58.00 price target on shares of Portland General Electric in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Portland General Electric in a report on Monday, December 29th. Finally, Wells Fargo & Company boosted their target price on shares of Portland General Electric from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and a consensus target price 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.