Johnson Bixby & Associates LLC Acquires Shares of 5,421 Portland General Electric (NYSE:POR)

Johnson Bixby & Associates LLC acquired a new stake in Portland General Electric (NYSE:POR) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,421 shares of the utilities provider’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric in the 4th quarter valued at $3,644,000. Pacer Advisors Inc. raised its stake in Portland General Electric by 149.3% during the 4th quarter. Pacer Advisors Inc. now owns 21,172 shares of the utilities provider’s stock worth $918,000 after buying an additional 12,679 shares during the period. Raymond James & Associates raised its stake in Portland General Electric by 8.6% during the 4th quarter. Raymond James & Associates now owns 245,631 shares of the utilities provider’s stock worth $10,646,000 after buying an additional 19,394 shares during the period. Legato Capital Management LLC raised its stake in Portland General Electric by 2.3% during the 4th quarter. Legato Capital Management LLC now owns 24,991 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 555 shares during the period. Finally, Scharf Investments LLC bought a new position in Portland General Electric during the 4th quarter worth about $3,037,000.

Analysts Set New Price Targets

POR has been the subject of several analyst reports. Mizuho restated a “neutral” rating and issued a $42.00 price objective (down previously from $43.00) on shares of Portland General Electric in a report on Tuesday, February 20th. 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. Barclays cut their price objective on shares of Portland General Electric from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $43.00 in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Portland General Electric presently has a consensus rating of “Hold” and an average target price of $45.13.

Portland General Electric Price Performance

POR traded up $1.18 during trading on Wednesday, hitting $41.68. 897,861 shares of the stock traded hands, compared to its average volume of 983,498. Portland General Electric has a twelve month low of $38.01 and a twelve month high of $51.58. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.74. The business has a 50 day moving average price of $40.74 and a 200 day moving average price of $41.55.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 16th. The utilities provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.20). Portland General Electric had a net margin of 7.80% and a return on equity of 7.21%. The firm had revenue of $725.00 million for the quarter, compared to analyst estimates of $740.21 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that Portland General Electric will post 3.06 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.475 per share. The ex-dividend date is Thursday, March 21st. This represents a $1.90 annualized dividend and a yield of 4.56%. Portland General Electric’s dividend payout ratio is currently 81.55%.

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.