Park Avenue Securities LLC Raises Stock Position in Portland General Electric (NYSE:POR)

Park Avenue Securities LLC boosted its stake in Portland General Electric (NYSE:POR) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,862 shares of the utilities provider’s stock after buying an additional 4,044 shares during the quarter. Park Avenue Securities LLC’s holdings in Portland General Electric were worth $910,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Portland General Electric during the third quarter worth about $25,000. Allworth Financial LP lifted its stake in Portland General Electric by 74.4% in the 3rd 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 boosted its holdings in shares of Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Quarry LP grew its position in shares of Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,482 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Portland General Electric by 4,690.5% in the third quarter. International Assets Investment Management LLC now owns 2,012 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,970 shares during the last quarter.

Portland General Electric Stock Performance

Shares of POR stock opened at $42.41 on Wednesday. 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 firm’s 50 day moving average price is $44.73 and its 200-day moving average price is $46.30. The firm has a market cap of $4.47 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.06 and a beta of 0.60.

Portland General Electric (NYSE:POR) last released its quarterly earnings results 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 return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same period last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Portland General Electric will post 3.11 EPS for the current year.

Analyst Upgrades and Downgrades

POR has been the topic of a number of recent research reports. StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI initiated coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price target on the stock. KeyCorp reduced their target price on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group reiterated a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Finally, Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.88.

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.