Boston Partners Increases Stock Position in Portland General Electric (NYSE:POR)

Boston Partners increased its position in Portland General Electric (NYSE:POR) by 25.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 339,623 shares of the utilities provider’s stock after buying an additional 68,207 shares during the period. Boston Partners’ holdings in Portland General Electric were worth $14,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in Portland General Electric during the third quarter worth about $596,000. Nordea Investment Management AB increased its position in Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after purchasing an additional 19,057 shares in the last quarter. Franklin Resources Inc. raised its holdings in Portland General Electric by 114.1% in the third quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after buying an additional 81,701 shares during the period. Synergy Asset Management LLC lifted its position in Portland General Electric by 260.6% during the fourth quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after buying an additional 82,743 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Portland General Electric by 14.2% during the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after buying an additional 10,643 shares in the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $44.31 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. The business has a 50 day moving average price of $42.74 and a two-hundred day moving average price of $45.26. The firm has a market cap of $4.85 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same quarter last year, the company earned $0.67 earnings per share. Sell-side analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s dividend payout ratio (DPR) is presently 66.45%.

Analyst Upgrades and Downgrades

POR has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group restated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 18th. Finally, Evercore ISI boosted their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

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.