Newbridge Financial Services Group Inc. Makes New $29,000 Investment in Portland General Electric (NYSE:POR)

Newbridge Financial Services Group Inc. purchased a new position in Portland General Electric (NYSE:POR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 658 shares of the utilities provider’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares during the last quarter. Geode Capital Management LLC grew its holdings in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock worth $117,114,000 after purchasing an additional 25,332 shares during the last quarter. Zimmer Partners LP grew its holdings in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Portland General Electric by 4.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,311,781 shares of the utilities provider’s stock worth $57,220,000 after purchasing an additional 51,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Portland General Electric by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after purchasing an additional 13,720 shares during the last quarter.

Wall Street Analysts Forecast Growth

POR has been the topic of several analyst reports. Jefferies Financial Group cut their price target on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. KeyCorp dropped 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 report on Wednesday, December 4th. Bank of America dropped their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a report on Tuesday, December 24th. Finally, UBS Group reissued a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.38.

Portland General Electric Trading Up 1.8 %

NYSE POR opened at $41.93 on Wednesday. The company has a market capitalization of $4.42 billion, a PE ratio of 12.51, a P/E/G ratio of 1.05 and a beta of 0.61. The company has a fifty day moving average of $42.96 and a 200 day moving average of $45.87. Portland General Electric has a 1 year low of $39.42 and a 1 year high of $49.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

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.