USA Financial Formulas Takes Position in Portland General Electric (NYSE:POR)

USA Financial Formulas purchased a new position in Portland General Electric (NYSE:POR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,620 shares of the utilities provider’s stock, valued at approximately $71,000.

A number of other institutional investors have also made changes to their positions in POR. State Street Corp lifted its holdings in shares of Portland General Electric by 1.6% during the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock valued at $199,509,000 after purchasing an additional 66,438 shares in the last quarter. Geode Capital Management LLC lifted its stake in Portland General Electric by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after buying an additional 25,332 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after buying an additional 952,214 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Portland General Electric by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider’s stock worth $65,234,000 after acquiring an additional 86,718 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its stake in Portland General Electric by 7.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider’s stock worth $64,216,000 after purchasing an additional 97,922 shares during the period.

Portland General Electric Trading Up 1.5 %

Shares of NYSE:POR opened at $41.90 on Friday. The stock has a market cap of $4.42 billion, a PE ratio of 12.51, a P/E/G ratio of 1.03 and a beta of 0.60. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85. The business has a 50 day moving average of $44.95 and a 200-day moving average of $46.26.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. Portland General Electric’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. As a group, equities research analysts forecast that Portland General Electric will post 3.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

POR has been the topic of several recent research reports. Evercore ISI began coverage on Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Barclays lowered their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. KeyCorp dropped their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Jefferies Financial Group began coverage on Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.88.

Portland General Electric 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.