Portland General Electric Company (NYSE:POR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 88.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,895 shares of the utilities provider's stock after buying an additional 40,329 shares during the quarter. Cerity Partners LLC owned approximately 0.08% of Portland General Electric worth $3,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Portland General Electric in the fourth quarter valued at approximately $62,004,000. Fuller & Thaler Asset Management Inc. lifted its stake in 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 buying an additional 635,987 shares during the last quarter. Vanguard Group Inc. lifted its stake in Portland General Electric by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider's stock valued at $519,651,000 after buying an additional 572,531 shares during the last quarter. Zimmer Partners LP lifted its stake in Portland General Electric by 25.2% in the fourth quarter. Zimmer Partners LP now owns 2,306,227 shares of the utilities provider's stock valued at $100,598,000 after buying an additional 463,685 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in Portland General Electric by 54.0% in the first quarter. Brown Advisory Inc. now owns 1,085,699 shares of the utilities provider's stock valued at $48,422,000 after buying an additional 380,749 shares during the last quarter.

Portland General Electric Stock Up 1.8%

Shares of POR stock traded up $0.71 during trading hours on Monday, reaching $40.73. The company had a trading volume of 1,611,819 shares, compared to its average volume of 1,072,823. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.06. Portland General Electric Company has a twelve month low of $39.55 and a twelve month high of $49.85. The company has a market capitalization of $4.46 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 3.72 and a beta of 0.56. The stock's fifty day simple moving average is $41.25 and its 200 day simple moving average is $42.22.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The business had revenue of $928.00 million for the quarter, compared to analyst estimates of $977.02 million. Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. Portland General Electric's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 EPS. As a group, sell-side analysts expect that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, September 25th. Portland General Electric's payout ratio is currently 73.94%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI reduced their price objective on Portland General Electric from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price target for the company. in a research note on Wednesday, May 14th. Barclays cut their price target on Portland General Electric from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets initiated coverage on Portland General Electric in a research note on Tuesday, May 13th. They set a "market perform" rating and a $46.00 price target for the company. Finally, UBS Group raised Portland General Electric from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $47.00 to $50.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Portland General Electric currently has an average rating of "Hold" and a consensus target price of $45.60.

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.