1,148,196 Shares in Portland General Electric (NYSE:POR) Bought by Channing Capital Management LLC

Channing Capital Management LLC purchased a new stake in Portland General Electric (NYSE:POR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,148,196 shares of the utilities provider’s stock, valued at approximately $49,763,000. Channing Capital Management LLC owned about 1.14% of Portland General Electric at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Leeward Investments LLC MA raised its holdings in shares of Portland General Electric by 16.9% in the 4th quarter. Leeward Investments LLC MA now owns 546,701 shares of the utilities provider’s stock valued at $23,694,000 after purchasing an additional 79,052 shares during the period. Comerica Bank raised its stake in Portland General Electric by 309.9% in the third quarter. Comerica Bank now owns 174,052 shares of the utilities provider’s stock valued at $7,046,000 after buying an additional 131,589 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Portland General Electric by 205.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 78,278 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 52,620 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Portland General Electric during the 4th quarter worth approximately $3,644,000. Finally, John G Ullman & Associates Inc. increased its holdings in shares of Portland General Electric by 11.7% during the 4th quarter. John G Ullman & Associates Inc. now owns 144,400 shares of the utilities provider’s stock worth $6,258,000 after acquiring an additional 15,150 shares during the last quarter.

Insiders Place Their Bets

In other Portland General Electric news, COO Benjamin Felton sold 3,500 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.60, for a total transaction of $142,100.00. Following the completion of the sale, the chief operating officer now directly owns 31,950 shares in the company, valued at approximately $1,297,170. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on POR. Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $43.00 in a research report on Monday, February 5th. Barclays decreased their price target on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. UBS Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $47.00 to $45.00 in a research report on Monday, January 29th. Mizuho reaffirmed a “neutral” rating and issued a $42.00 target price (down previously from $43.00) on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, StockNews.com raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.13.

Portland General Electric Price Performance

Shares of NYSE POR traded up $0.29 during trading hours on Friday, hitting $43.77. 1,500,483 shares of the stock were exchanged, compared to its average volume of 967,685. Portland General Electric has a 1-year low of $38.01 and a 1-year high of $51.58. The company has a market cap of $4.51 billion, a PE ratio of 16.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.22. The company’s fifty day simple moving average is $41.61 and its two-hundred day simple moving average is $41.58.

Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. The firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $828.94 million. Portland General Electric had a return on equity of 8.50% and a net margin of 8.51%. The company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, sell-side analysts predict that Portland General Electric will post 3.08 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, May 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 21st. This is a boost from Portland General Electric’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 4.57%. Portland General Electric’s dividend payout ratio is presently 72.80%.

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.