Invesco Ltd. Has $95.97 Million Stake in Portland General Electric (NYSE:POR)

Invesco Ltd. lifted its position in Portland General Electric (NYSE:POR) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,200,086 shares of the utilities provider’s stock after buying an additional 271,540 shares during the quarter. Invesco Ltd. owned about 2.09% of Portland General Electric worth $95,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Portland General Electric during the 4th quarter worth about $29,000. Versant Capital Management Inc increased its position in Portland General Electric by 151.0% during the fourth quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 450 shares during the period. Cullen Frost Bankers Inc. raised its stake in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Portland General Electric in the 4th quarter valued at $52,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Portland General Electric by 352.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock valued at $61,000 after buying an additional 1,096 shares during the period.

Portland General Electric Stock Performance

Portland General Electric stock opened at $42.14 on Monday. The stock has a 50-day simple moving average of $43.34 and a 200 day simple moving average of $44.60. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.11 and a beta of 0.49. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.22. Portland General Electric has a 12-month low of $40.05 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. The company had revenue of $824.00 million during the quarter, compared to the consensus estimate of $716.17 million. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, research analysts anticipate that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. Portland General Electric’s payout ratio is currently 66.45%.

Insider Activity

In related news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total transaction of $56,815.00. Following the completion of the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

POR has been the subject of a number of research reports. Barclays raised their price objective on Portland General Electric from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $44.00 price target (down previously from $50.00) on shares of Portland General Electric in a research note on Thursday. UBS Group reissued a “neutral” rating and issued a $47.00 price target (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. StockNews.com cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Finally, Bank of America cut their price objective on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a report on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $45.78.

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.