Envestnet Portfolio Solutions Inc. Increases Position in Portland General Electric (NYSE:POR)

Envestnet Portfolio Solutions Inc. increased its position in shares of Portland General Electric (NYSE:POR) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,971 shares of the utilities provider’s stock after purchasing an additional 2,225 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Portland General Electric were worth $566,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of POR. Zimmer Partners LP grew its holdings in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Portland General Electric during the fourth quarter worth $32,553,000. OLD Republic International Corp purchased a new position in Portland General Electric during the fourth quarter valued at $22,464,000. Raymond James Financial Inc. bought a new stake in Portland General Electric in the 4th quarter valued at $7,181,000. Finally, Bank of New York Mellon Corp lifted its stake in Portland General Electric by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,716,256 shares of the utilities provider’s stock worth $74,863,000 after purchasing an additional 138,831 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $42.62 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $42.89 and its two-hundred day moving average is $45.11. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a market capitalization of $4.67 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $0.67 earnings per share. As a group, analysts expect that Portland General Electric will post 3.21 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued 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 4.69%. Portland General Electric’s payout ratio is 66.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POR. Bank of America reduced their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. KeyCorp decreased their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Barclays boosted their price target on shares of Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Evercore ISI increased their price objective on shares of Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group reduced 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 report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.00.

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.