Wedge Capital Management L L P NC Has $5.48 Million Holdings in Portland General Electric (NYSE:POR)

Wedge Capital Management L L P NC reduced its stake in shares of Portland General Electric (NYSE:POR) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 125,704 shares of the utilities provider’s stock after selling 341 shares during the period. Wedge Capital Management L L P NC’s holdings in Portland General Electric were worth $5,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Portland General Electric during the third quarter valued at approximately $596,000. Nordea Investment Management AB boosted its holdings in Portland General Electric by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 989,379 shares of the utilities provider’s stock worth $43,058,000 after acquiring an additional 19,057 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Portland General Electric by 114.1% in the 3rd quarter. Franklin Resources Inc. now owns 153,290 shares of the utilities provider’s stock worth $7,289,000 after acquiring an additional 81,701 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Portland General Electric by 14.2% in the third quarter. HighTower Advisors LLC now owns 85,751 shares of the utilities provider’s stock valued at $4,114,000 after purchasing an additional 10,643 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Portland General Electric by 1.0% during 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 purchasing an additional 25,332 shares in the last quarter.

Portland General Electric Stock Down 0.2 %

POR stock opened at $41.87 on Friday. The stock has a fifty day moving average of $44.84 and a 200-day moving average of $46.27. Portland General Electric has a fifty-two week low of $39.13 and a fifty-two week high of $49.85. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.03 and a beta of 0.60. 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 issued its earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share for the quarter, topping 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 analyst estimates of $882.66 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Portland General Electric will post 3.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on POR shares. Barclays decreased their price objective on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. KeyCorp reduced their price objective on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Bank of America decreased their target price on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. Finally, StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.88.

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.