Portland General Electric Company (NYSE:POR) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake 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 & Exchange Commission. The fund owned 486,645 shares of the utilities provider's stock after acquiring an additional 11,853 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of Portland General Electric worth $21,704,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its position in shares of Portland General Electric by 25.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,443 shares of the utilities provider's stock valued at $64,000 after acquiring an additional 291 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Portland General Electric in the first quarter worth approximately $27,000. OneDigital Investment Advisors LLC lifted its position in shares of Portland General Electric by 9.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,981 shares of the utilities provider's stock worth $356,000 after purchasing an additional 699 shares during the last quarter. Leeward Investments LLC MA increased its holdings in shares of Portland General Electric by 7.7% in the 1st quarter. Leeward Investments LLC MA now owns 553,239 shares of the utilities provider's stock valued at $24,674,000 after acquiring an additional 39,769 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Portland General Electric by 3.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,203 shares of the utilities provider's stock valued at $990,000 after buying an additional 700 shares in the last quarter.

Portland General Electric Trading Down 0.5%

Shares of NYSE POR traded down $0.19 during trading on Friday, hitting $40.02. 1,845,886 shares of the company traded hands, compared to its average volume of 1,069,046. Portland General Electric Company has a 1 year low of $39.55 and a 1 year high of $49.85. The firm has a market capitalization of $4.38 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.74 and a beta of 0.56. 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 50-day moving average price of $41.25 and a 200-day moving average price of $42.24.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Friday, April 25th. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Portland General Electric had a net margin of 8.84% and a return on equity of 8.24%. The business had revenue of $928.00 million during the quarter, compared to analysts' expectations of $977.02 million. During the same period in the prior year, the business posted $1.21 EPS. The business's revenue was down .1% on a year-over-year basis. On average, equities analysts predict that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This is an increase from Portland General Electric's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 5.25%. Portland General Electric's dividend payout ratio (DPR) is currently 73.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on POR. UBS Group upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and raised their target price for the stock from $47.00 to $50.00 in a research report on Monday, May 5th. KeyCorp cut Portland General Electric from an "overweight" rating to a "sector weight" rating and set a $51.00 price objective for the company. in a research report on Wednesday, May 14th. BMO Capital Markets started coverage on Portland General Electric in a report on Tuesday, May 13th. They issued a "market perform" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Portland General Electric from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Wells Fargo & Company cut their price target on Portland General Electric from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.