Quantinno Capital Management LP Raises Position in Portland General Electric (NYSE:POR)

Quantinno Capital Management LP lifted its position in shares of Portland General Electric (NYSE:POR) by 43.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,969 shares of the utilities provider’s stock after acquiring an additional 3,009 shares during the quarter. Quantinno Capital Management LP’s holdings in Portland General Electric were worth $478,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in POR. Wealth Enhancement Advisory Services LLC raised its stake in shares of Portland General Electric by 7.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,694 shares of the utilities provider’s stock worth $506,000 after buying an additional 784 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Portland General Electric by 6.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,313 shares of the utilities provider’s stock worth $446,000 after acquiring an additional 631 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Portland General Electric in the second quarter worth $4,462,000. Blue Trust Inc. lifted its holdings in Portland General Electric by 94.5% in the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 451 shares during the period. Finally, First Pacific Financial boosted its position in shares of Portland General Electric by 7.1% during the 2nd quarter. First Pacific Financial now owns 11,984 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 794 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. Bank of America initiated coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, KeyCorp lowered their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.13.

Portland General Electric Stock Performance

NYSE POR opened at $44.48 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The business has a fifty day moving average of $47.09 and a 200-day moving average of $46.28. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59.

Portland General Electric (NYSE:POR) last announced its 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. 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 for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.50%. Portland General Electric’s payout ratio is currently 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.