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

Quantinno Capital Management LP grew its stake in Portland General Electric (NYSE:POR) by 43.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,969 shares of the utilities provider’s stock after buying an additional 3,009 shares during the quarter. Quantinno Capital Management LP’s holdings in Portland General Electric were worth $478,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in Portland General Electric in the third quarter worth approximately $25,000. Allworth Financial LP raised its holdings in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Portland General Electric during the 2nd quarter worth $33,000. Blue Trust Inc. grew its stake in shares of Portland General Electric by 94.5% during the second quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 451 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Portland General Electric in the second quarter valued at $40,000.

Analyst Ratings Changes

A number of analysts have issued reports on POR shares. Bank of America started coverage on Portland General Electric in a report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price target for the company. Jefferies Financial Group started coverage on Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 target price for the company. KeyCorp dropped their price target on shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI assumed 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 objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.13.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $44.48 on Friday. The firm’s fifty day simple moving average is $47.09 and its 200-day simple moving average is $46.28. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.15 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 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 company had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same period in the previous year, the business posted $0.46 earnings per share. Portland General Electric’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. Portland General Electric’s payout ratio is 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.