Portland General Electric (NYSE:POR) Shares Bought by Scharf Investments LLC

Scharf Investments LLC grew its stake in Portland General Electric (NYSE:POR) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,417 shares of the utilities provider’s stock after buying an additional 3,405 shares during the quarter. Scharf Investments LLC’s holdings in Portland General Electric were worth $3,944,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of POR. V Square Quantitative Management LLC acquired a new position in shares of Portland General Electric in the third quarter worth about $25,000. Allworth Financial LP boosted its position in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Portland General Electric by 151.0% in the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. Quarry LP raised its stake in shares of Portland General Electric by 962.3% during the 2nd quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,482 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Portland General Electric during the 4th quarter valued at approximately $71,000.

Analysts Set New Price Targets

A number of research firms have weighed in on POR. JPMorgan Chase & Co. upped their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America decreased their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group lowered their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday. UBS Group reissued a “neutral” rating and set a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Barclays dropped their price target on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.38.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $41.14 on Friday. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The business’s 50 day moving average price is $43.77 and its 200 day moving average price is $46.13. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.05 and a beta of 0.60.

Portland General Electric Company Profile

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.