Oliver Luxxe Assets LLC Boosts Holdings in Portland General Electric (NYSE:POR)

Oliver Luxxe Assets LLC grew its position in Portland General Electric (NYSE:POR) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,799 shares of the utilities provider’s stock after purchasing an additional 4,780 shares during the quarter. Oliver Luxxe Assets LLC owned about 0.10% of Portland General Electric worth $4,440,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Zimmer Partners LP grew its stake in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after buying an additional 952,214 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after acquiring an additional 530,020 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Portland General Electric by 657.0% during the second quarter. Marshall Wace LLP now owns 314,688 shares of the utilities provider’s stock worth $13,607,000 after acquiring an additional 273,118 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Portland General Electric by 83.4% during the second quarter. Systematic Financial Management LP now owns 424,701 shares of the utilities provider’s stock valued at $18,364,000 after acquiring an additional 193,164 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Portland General Electric in the 2nd quarter valued at approximately $7,459,000.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Bank of America dropped their target price on shares of 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. Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price objective on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays dropped their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $48.88.

Portland General Electric Stock Performance

Shares of NYSE POR traded down $0.85 during trading on Monday, reaching $42.30. 694,678 shares of the company traded hands, compared to its average volume of 1,151,749. The stock has a market cap of $4.46 billion, a P/E ratio of 12.63, a PEG ratio of 1.13 and a beta of 0.59. The firm’s fifty day simple moving average is $45.91 and its 200 day simple moving average is $46.34. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The company had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $882.66 million. During the same period last year, the business earned $0.46 earnings per share. Portland General Electric’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.73%. Portland General Electric’s dividend payout ratio is presently 59.70%.

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.