Envestnet Asset Management Inc. Grows Stock Position in Portland General Electric Company (NYSE:POR)

Envestnet Asset Management Inc. increased its position in Portland General Electric Company (NYSE:POR - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486,645 shares of the utilities provider's stock after buying an additional 11,853 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of Portland General Electric worth $21,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Portland General Electric in the fourth quarter valued at $62,004,000. Fuller & Thaler Asset Management Inc. boosted its holdings 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 acquiring an additional 635,987 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 572,531 shares in the last quarter. Zimmer Partners LP boosted its holdings 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 acquiring an additional 463,685 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in Portland General Electric by 1,510.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 359,126 shares of the utilities provider's stock valued at $15,665,000 after acquiring an additional 336,823 shares in the last quarter.

Portland General Electric Stock Performance

Portland General Electric stock traded down $0.19 during trading hours on Friday, hitting $40.02. 1,845,886 shares of the stock traded hands, compared to its average volume of 1,069,047. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.06 and a quick ratio of 0.94. The firm's 50 day moving average price is $41.25 and its 200-day moving average price is $42.24. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 3.74 and a beta of 0.56. Portland General Electric Company has a 1 year low of $39.55 and a 1 year high of $49.85.

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

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 24th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Tuesday, June 24th. This is a boost from Portland General Electric's previous quarterly dividend of $0.50. Portland General Electric's dividend payout ratio (DPR) is currently 73.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating on the stock 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 target price for the company. in a report on Wednesday, May 14th. Wall Street Zen upgraded Portland General Electric from a "sell" rating to a "hold" rating in a report on Friday, April 25th. BMO Capital Markets assumed 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, JPMorgan Chase & Co. decreased their price target on Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.60.

Portland General Electric 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.