Envestnet Asset Management Inc. Has $18.01 Million Position in Portland General Electric (NYSE:POR)

Envestnet Asset Management Inc. grew its holdings in shares of Portland General Electric (NYSE:POR) by 13.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,437 shares of the utilities provider’s stock after acquiring an additional 49,828 shares during the period. Envestnet Asset Management Inc. owned 0.40% of Portland General Electric worth $18,007,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of POR. Goldman Sachs Group Inc. grew its holdings in Portland General Electric by 29.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,524,435 shares of the utilities provider’s stock worth $196,089,000 after acquiring an additional 1,017,503 shares during the period. Norges Bank acquired a new stake in Portland General Electric during the 4th quarter worth about $39,112,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Portland General Electric during the 2nd quarter worth about $31,557,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Portland General Electric during the 4th quarter worth about $17,460,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Portland General Electric by 24.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,265,745 shares of the utilities provider’s stock worth $54,857,000 after purchasing an additional 249,350 shares in the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $48.08 on Tuesday. Portland General Electric has a fifty-two week low of $38.01 and a fifty-two week high of $49.45. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.38 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.00. The firm’s 50-day simple moving average is $47.43 and its 200 day simple moving average is $44.42.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, July 26th. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Portland General Electric had a net margin of 9.24% and a return on equity of 9.15%. The firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $716.43 million. During the same quarter last year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that Portland General Electric will post 3.09 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. Portland General Electric’s dividend payout ratio is currently 76.63%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of Portland General Electric stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the transaction, the senior vice president now owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Benjamin Felton sold 1,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $48.00, for a total transaction of $90,528.00. Following the sale, the chief operating officer now owns 30,142 shares of the company’s stock, valued at approximately $1,446,816. The disclosure for this sale can be found here. Insiders have sold a total of 5,486 shares of company stock valued at $262,153 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on POR shares. Bank of America started coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective on the stock. KeyCorp raised shares of Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. Barclays cut shares of Portland General Electric from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $48.00 to $49.00 in a research report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday. They set a “hold” rating and a $48.00 price objective on the stock. Finally, StockNews.com cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $45.88.

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.