Assenagon Asset Management S.A. Takes Position in Portland General Electric (NYSE:POR)

Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric (NYSE:POR) during the fourth quarter, Holdings Channel reports. The firm purchased 746,283 shares of the utilities provider’s stock, valued at approximately $32,553,000.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. First Pacific Financial lifted its position in Portland General Electric by 2.9% during the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after buying an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Portland General Electric by 20.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after buying an additional 413 shares during the last quarter. Versant Capital Management Inc grew its holdings in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in shares of Portland General Electric by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 458 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Portland General Electric in a report on Friday, September 20th. They issued a “hold” rating and a $48.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI began coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. Finally, KeyCorp reduced their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Stock Performance

NYSE:POR opened at $41.90 on Friday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth 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 52 week low of $39.13 and a 52 week high of $49.85. The company has a fifty day simple moving average of $44.95 and a two-hundred day simple moving average of $46.26.

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

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.