Park Avenue Securities LLC Raises Stock Position in Portland General Electric (NYSE:POR)

Park Avenue Securities LLC lifted its stake in Portland General Electric (NYSE:POR) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,862 shares of the utilities provider’s stock after buying an additional 4,044 shares during the period. Park Avenue Securities LLC’s holdings in Portland General Electric were worth $910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of POR. Allworth Financial LP raised its position in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the last quarter. First Pacific Financial increased its holdings in shares of Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 413 shares during the period. Versant Capital Management Inc boosted its position in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in Portland General Electric by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock valued at $364,000 after acquiring an additional 458 shares during the last quarter.

Portland General Electric Trading Up 1.4 %

Shares of NYSE POR opened at $42.41 on Wednesday. Portland General Electric has a 52-week low of $39.13 and a 52-week high of $49.85. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.47 billion, a P/E ratio of 12.66, a PEG ratio of 1.06 and a beta of 0.60. The stock’s 50 day moving average price is $44.73 and its two-hundred day moving average price is $46.30.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.