Brandywine Global Investment Management LLC Has $15.67 Million Stake in Portland General Electric (NYSE:POR)

Brandywine Global Investment Management LLC raised its position in Portland General Electric (NYSE:POR) by 1,510.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 359,126 shares of the utilities provider’s stock after purchasing an additional 336,823 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Portland General Electric were worth $15,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of POR. Norges Bank bought a new stake in shares of Portland General Electric in the 4th quarter valued at about $62,004,000. Zimmer Partners LP raised its stake 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 valued at $88,258,000 after buying an additional 952,214 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $32,553,000. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 11,913,132 shares of the utilities provider’s stock worth $519,651,000 after acquiring an additional 572,531 shares during the period. Finally, OLD Republic International Corp bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $22,464,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on POR. 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 report on Tuesday, February 18th. Jefferies Financial Group lowered 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. UBS Group restated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Barclays increased their target price on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.00.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the transaction, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 1.5 %

Shares of POR stock opened at $44.39 on Monday. The stock has a market cap of $4.86 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a 1 year low of $40.05 and a 1 year high of $49.85. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $43.01 and a 200 day simple moving average of $45.02.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the prior year, the company posted $0.67 EPS. On average, research analysts predict that Portland General Electric will post 3.21 earnings per share 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio is currently 66.45%.

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.