Portland General Electric (NYSE:POR) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC lifted its holdings in shares of Portland General Electric (NYSE:POR) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 643,550 shares of the utilities provider’s stock after buying an additional 18,473 shares during the quarter. Empower Advisory Group LLC owned approximately 0.61% of Portland General Electric worth $28,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp raised its position in Portland General Electric by 5.7% during the fourth quarter. Truist Financial Corp now owns 99,489 shares of the utilities provider’s stock worth $4,340,000 after acquiring an additional 5,406 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Portland General Electric by 2.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 44,749 shares of the utilities provider’s stock worth $1,952,000 after purchasing an additional 1,254 shares during the last quarter. Principal Securities Inc. lifted its stake in Portland General Electric by 23.9% in the 4th quarter. Principal Securities Inc. now owns 6,518 shares of the utilities provider’s stock valued at $284,000 after buying an additional 1,259 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Portland General Electric by 8.7% in the 4th quarter. Congress Asset Management Co. now owns 132,527 shares of the utilities provider’s stock worth $5,781,000 after buying an additional 10,644 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Portland General Electric by 4.3% during the 4th quarter. Rhumbline Advisers now owns 367,063 shares of the utilities provider’s stock worth $16,011,000 after buying an additional 15,045 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays decreased their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group decreased 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 research note on Tuesday, January 28th. KeyCorp dropped their price objective on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. UBS Group reissued a “neutral” rating and issued a $47.00 target price (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price target on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.38.

Portland General Electric Stock Performance

NYSE:POR opened at $41.62 on Tuesday. Portland General Electric has a fifty-two week low of $39.49 and a fifty-two week high of $49.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The company has a 50 day moving average price of $42.50 and a 200 day moving average price of $45.68. The stock has a market capitalization of $4.39 billion, a P/E ratio of 12.42, a PEG ratio of 1.05 and a beta of 0.61.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data 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. The firm had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. During the same quarter in the previous year, the business posted $0.67 earnings per share. Equities research analysts forecast that Portland General Electric will post 3.11 EPS for the current year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Monday, March 24th. Portland General Electric’s dividend payout ratio is presently 66.45%.

About Portland General Electric

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.