Burney Co. Has $4.12 Million Stock Position in Portland General Electric Company (NYSE:POR)

Burney Co. raised its stake in Portland General Electric Company (NYSE:POR - Free Report) by 223.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,326 shares of the utilities provider's stock after buying an additional 63,807 shares during the quarter. Burney Co. owned approximately 0.08% of Portland General Electric worth $4,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of POR. Norges Bank acquired a new stake in shares of Portland General Electric during the fourth quarter worth $62,004,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Portland General Electric by 19.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,959,660 shares of the utilities provider's stock valued at $172,720,000 after purchasing an additional 635,987 shares during the period. Vanguard Group Inc. lifted its position in shares of Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after acquiring an additional 572,531 shares during the period. Zimmer Partners LP raised its holdings in Portland General Electric by 25.2% during the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock worth $100,598,000 after purchasing an additional 463,685 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Portland General Electric by 54.0% during the 1st quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock worth $48,422,000 after buying an additional 380,749 shares during the last quarter.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,937 shares of Portland General Electric stock in a transaction on Monday, July 21st. The stock was sold at an average price of $40.10, for a total transaction of $77,673.70. Following the completion of the sale, the director directly owned 13,509 shares of the company's stock, valued at $541,710.90. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Portland General Electric Stock Performance

Portland General Electric stock traded up $1.67 during trading hours on Friday, hitting $41.40. The stock had a trading volume of 2,267,940 shares, compared to its average volume of 1,356,969. The company has a 50-day moving average of $41.10 and a two-hundred day moving average of $42.15. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.28. The company has a market cap of $4.53 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 3.85 and a beta of 0.56. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $49.85.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $807.00 million during the quarter, compared to analysts' expectations of $797.97 million. Portland General Electric had a return on equity of 8.24% and a net margin of 8.84%. Portland General Electric's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, September 25th will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.10 dividend on an annualized basis and a yield of 5.07%. Portland General Electric's payout ratio is 77.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on POR. BMO Capital Markets assumed coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target for the company. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. UBS Group raised shares of Portland General Electric from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. Finally, Evercore ISI decreased their price objective on shares of Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of "Hold" and an average price target of $45.40.

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.