Intech Investment Management LLC Invests $1.54 Million in Portland General Electric (NYSE:POR)

Intech Investment Management LLC bought a new position in Portland General Electric (NYSE:POR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,133 shares of the utilities provider’s stock, valued at approximately $1,539,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of Portland General Electric by 767.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric in the third quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Portland General Electric in the first quarter valued at about $26,000. Allworth Financial LP lifted its stake in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the second quarter valued at about $33,000.

Portland General Electric Price Performance

Portland General Electric stock opened at $48.09 on Tuesday. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a 50 day moving average price of $47.45 and a 200 day moving average price of $46.07. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

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

Portland General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.16%. Portland General Electric’s dividend payout ratio is currently 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the sale, the senior vice president now directly owns 14,263 shares in the company, valued at $688,902.90. The trade was a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on POR shares. JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Evercore ISI started coverage on shares of Portland General Electric in a research report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. Finally, Bank of America started coverage on shares of Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $48.86.

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.