Portland General Electric (NYSE:POR) Shares Bought by Synergy Asset Management LLC

Synergy Asset Management LLC lifted its stake in shares of Portland General Electric (NYSE:POR) by 260.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,496 shares of the utilities provider’s stock after purchasing an additional 82,743 shares during the quarter. Synergy Asset Management LLC owned about 0.11% of Portland General Electric worth $5,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in Portland General Electric by 1.6% in the 3rd quarter. State Street Corp now owns 4,123,279 shares of the utilities provider’s stock worth $199,509,000 after purchasing an additional 66,438 shares during the last quarter. Geode Capital Management LLC increased its position in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider’s stock valued at $117,114,000 after acquiring an additional 25,332 shares during the period. Zimmer Partners LP raised its stake in Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock valued at $88,258,000 after acquiring an additional 952,214 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Portland General Electric by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,066 shares of the utilities provider’s stock worth $61,219,000 after acquiring an additional 13,720 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after purchasing an additional 530,020 shares in the last quarter.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $41.30 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $4.36 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60. The stock has a fifty day moving average of $44.02 and a 200-day moving average of $46.19. Portland General Electric has a one year low of $39.13 and a one year high of $49.85.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. KeyCorp cut their price objective 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. UBS Group reaffirmed a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Jefferies Financial Group lowered their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday. Barclays cut their target price on Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.38.

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.