Oppenheimer Asset Management Inc. Purchases 609 Shares of Portland General Electric (NYSE:POR)

Oppenheimer Asset Management Inc. grew its position in shares of Portland General Electric (NYSE:POR) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,543 shares of the utilities provider’s stock after purchasing an additional 609 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Portland General Electric were worth $852,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Portland General Electric during the 3rd quarter valued at about $596,000. Nordea Investment Management AB increased its position in shares of Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock valued at $43,058,000 after purchasing an additional 19,057 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Portland General Electric by 114.1% during the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock valued at $7,289,000 after purchasing an additional 81,701 shares during the last quarter. Synergy Asset Management LLC increased its position in shares of Portland General Electric by 260.6% during 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 increased its position in shares of Portland General Electric by 14.2% during the 3rd quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after purchasing an additional 10,643 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on POR. Bank of America reduced their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. UBS Group restated a “neutral” rating and set a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Evercore ISI raised their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Barclays raised their price target on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, KeyCorp reduced their price target on 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 research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.00.

Portland General Electric Trading Down 1.7 %

NYSE POR opened at $44.48 on Wednesday. Portland General Electric has a fifty-two week low of $40.05 and a fifty-two week high of $49.85. 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 stock has a 50 day simple moving average of $42.46 and a two-hundred day simple moving average of $45.49. The stock has a market cap of $4.86 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61.

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

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, March 24th. Portland General Electric’s payout ratio is presently 66.45%.

Insider Activity

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total value of $56,815.00. Following the completion of the transaction, the chief financial officer now owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.