Portland General Electric (NYSE:POR) Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC raised its holdings in Portland General Electric (NYSE:POR) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,799 shares of the utilities provider’s stock after purchasing an additional 4,780 shares during the period. Oliver Luxxe Assets LLC’s holdings in Portland General Electric were worth $4,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp lifted its position in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after buying an additional 66,438 shares in the last quarter. Geode Capital Management LLC raised its position in Portland General Electric by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after acquiring an additional 25,332 shares during the period. Zimmer Partners LP grew its position in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after purchasing an additional 952,214 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Portland General Electric by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock valued at $65,234,000 after purchasing an additional 86,718 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in shares of Portland General Electric by 7.1% during the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after purchasing an additional 97,922 shares in the last quarter.

Analyst Upgrades and Downgrades

POR has been the topic of several research analyst reports. Evercore ISI initiated coverage on Portland General Electric in a report on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America reduced their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Barclays lowered their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Trading Down 2.0 %

POR traded down $0.85 on Monday, hitting $42.30. The company had a trading volume of 694,678 shares, compared to its average volume of 1,151,749. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.46 billion, a P/E ratio of 12.63, a PEG ratio of 1.13 and a beta of 0.59. The company’s fifty day moving average price is $45.91 and its 200 day moving average price is $46.34. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.73%. Portland General Electric’s dividend payout ratio is presently 59.70%.

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.