Boston Partners Increases Position in Portland General Electric (NYSE:POR)

Boston Partners increased its stake in shares of Portland General Electric (NYSE:POR) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 339,623 shares of the utilities provider’s stock after buying an additional 68,207 shares during the quarter. Boston Partners owned about 0.32% of Portland General Electric worth $14,809,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its stake in shares of Portland General Electric by 29.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 980,752 shares of the utilities provider’s stock valued at $42,780,000 after purchasing an additional 223,147 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Portland General Electric during the fourth quarter worth $425,000. Envestnet Portfolio Solutions Inc. grew its position in Portland General Electric by 20.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,971 shares of the utilities provider’s stock valued at $566,000 after buying an additional 2,225 shares during the last quarter. Natixis Advisors LLC increased its stake in Portland General Electric by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 322,686 shares of the utilities provider’s stock valued at $14,076,000 after buying an additional 4,195 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in Portland General Electric by 31.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 44,384 shares of the utilities provider’s stock worth $1,936,000 after buying an additional 10,571 shares during the last quarter.

Wall Street Analysts Forecast Growth

POR has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research note on Tuesday, December 24th. Barclays increased their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. KeyCorp cut their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, Evercore ISI raised their price target on Portland General Electric from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and an average price target of $47.00.

Insider Activity

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company’s stock, valued at approximately $1,320,587.20. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

Portland General Electric Trading Up 0.1 %

Portland General Electric stock opened at $44.31 on Friday. The stock has a 50-day moving average price of $42.74 and a 200 day moving average price of $45.26. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The stock has a market cap of $4.85 billion, a PE ratio of 14.72, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, March 24th. Portland General Electric’s dividend payout ratio (DPR) is 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.