Intech Investment Management LLC Invests $1.54 Million in Portland General Electric (NYSE:POR)

Intech Investment Management LLC bought a new position in shares of Portland General Electric (NYSE:POR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,133 shares of the utilities provider’s stock, valued at approximately $1,539,000.

A number of other institutional investors have also made changes to their positions in POR. Allworth Financial LP raised its holdings in Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares in the last quarter. First Pacific Financial raised its holdings in Portland General Electric by 2.9% in the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after acquiring an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. raised its holdings in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter.

Insider Buying and Selling at Portland General Electric

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total value of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $688,902.90. This represents a 14.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Portland General Electric Stock Performance

Shares of POR opened at $48.09 on Tuesday. The firm has a 50-day moving average price of $47.45 and a 200 day moving average price of $46.07. The firm has a market capitalization of $5.07 billion, a PE ratio of 14.20, a P/E/G ratio of 1.21 and a beta of 0.59. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, sell-side analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s payout ratio is 59.70%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on POR. Bank of America assumed coverage on shares of Portland General Electric in a report on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Barclays lowered their target price on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group assumed coverage on shares of Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. Evercore ISI assumed coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $48.86.

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.