Portland General Electric (NYSE:POR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Portland General Electric (NYSE:POR) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,064,269 shares of the utilities provider’s stock after purchasing an additional 11,346 shares during the period. Victory Capital Management Inc. owned about 1.01% of Portland General Electric worth $46,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in POR. Y Intercept Hong Kong Ltd acquired a new position in Portland General Electric during the third quarter worth approximately $596,000. Nordea Investment Management AB grew its position in shares of Portland General Electric by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after acquiring an additional 81,701 shares during the period. Synergy Asset Management LLC raised its position in Portland General Electric by 260.6% in the 4th quarter. Synergy Asset Management LLC now owns 114,496 shares of the utilities provider’s stock valued at $5,096,000 after purchasing an additional 82,743 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock worth $4,114,000 after purchasing an additional 10,643 shares during the period.

Portland General Electric Price Performance

Shares of NYSE POR opened at $44.51 on Friday. The company’s fifty day moving average is $42.48 and its two-hundred day moving average is $45.45. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a market capitalization of $4.87 billion, a P/E ratio of 14.79, a PEG ratio of 1.11 and a beta of 0.55. Portland General Electric has a one year low of $40.05 and a one year high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $716.17 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. Portland General Electric’s payout ratio is 66.45%.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of recent research reports. LADENBURG THALM/SH SH lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, February 18th. Barclays upped their price objective on Portland General Electric from $42.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. UBS Group restated a “neutral” rating and set a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, KeyCorp lowered their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric has an average rating of “Hold” and a consensus price target of $47.00.

Insider Buying and Selling at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

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.