Panagora Asset Management Inc. Buys 40,532 Shares of Portland General Electric Company $POR

Panagora Asset Management Inc. grew its position in shares of Portland General Electric Company (NYSE:POR) by 757.0% during the second quarter, Holdings Channel.com reports. The fund owned 45,886 shares of the utilities provider’s stock after purchasing an additional 40,532 shares during the quarter. Panagora Asset Management Inc.’s holdings in Portland General Electric were worth $1,864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Portland General Electric during the second quarter valued at about $41,554,000. Level Four Advisory Services LLC increased its stake in Portland General Electric by 8.5% in the 2nd quarter. Level Four Advisory Services LLC now owns 39,788 shares of the utilities provider’s stock valued at $1,617,000 after buying an additional 3,102 shares during the last quarter. Capital Fund Management S.A. lifted its position in shares of Portland General Electric by 26.5% during the 2nd quarter. Capital Fund Management S.A. now owns 106,906 shares of the utilities provider’s stock worth $4,344,000 after buying an additional 22,401 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Portland General Electric during the 2nd quarter worth approximately $51,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Portland General Electric by 20.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 256,885 shares of the utilities provider’s stock worth $10,437,000 after buying an additional 42,748 shares during the last quarter.

Analyst Upgrades and Downgrades

POR has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Monday. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Barclays boosted their price target on shares of Portland General Electric from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Mizuho set a $47.00 price objective on shares of Portland General Electric in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling

In related news, CEO Maria M. Pope sold 18,896 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $42.50, for a total value of $803,080.00. Following the completion of the transaction, the chief executive officer directly owned 194,135 shares of the company’s stock, valued at approximately $8,250,737.50. This trade represents a 8.87% decrease in their position. The transaction 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 Stock Down 1.3%

Shares of NYSE POR opened at $48.70 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. The stock has a market capitalization of $5.48 billion, a PE ratio of 17.71, a P/E/G ratio of 4.51 and a beta of 0.67. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14. The business’s fifty day moving average price is $46.76 and its 200-day moving average price is $43.45.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Portland General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s dividend payout ratio is presently 76.36%.

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.