1,391 Shares in Portland General Electric (NYSE:POR) Bought by Wipfli Financial Advisors LLC

Wipfli Financial Advisors LLC acquired a new position in Portland General Electric (NYSE:PORGet Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,391 shares of the utilities provider’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Captrust Financial Advisors boosted its position in Portland General Electric by 6.4% in the first quarter. Captrust Financial Advisors now owns 4,394 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 264 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Portland General Electric by 69.1% in the second quarter. Quadrant Capital Group LLC now owns 778 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 318 shares during the last quarter. Cetera Investment Advisers boosted its position in Portland General Electric by 3.7% in the first quarter. Cetera Investment Advisers now owns 9,961 shares of the utilities provider’s stock worth $549,000 after purchasing an additional 355 shares during the last quarter. First Pacific Financial boosted its position in Portland General Electric by 3.4% in the third quarter. First Pacific Financial now owns 10,868 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 356 shares during the last quarter. Finally, Xponance Inc. boosted its position in Portland General Electric by 3.0% in the third quarter. Xponance Inc. now owns 13,896 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Credit Suisse Group raised Portland General Electric from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $43.00 to $46.00 in a research report on Wednesday, October 26th. Guggenheim dropped their price target on Portland General Electric from $56.00 to $48.00 in a research report on Monday, October 24th. StockNews.com raised Portland General Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, December 6th. Wells Fargo & Company upped their price target on Portland General Electric to $53.00 in a research report on Wednesday, December 14th. Finally, Mizuho dropped their price target on Portland General Electric from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.29.

Portland General Electric Stock Performance

Shares of POR opened at $48.26 on Friday. The stock’s 50-day simple moving average is $48.14 and its 200 day simple moving average is $48.79. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 3.41 and a beta of 0.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.67 and a current ratio of 0.76. Portland General Electric has a 52-week low of $41.58 and a 52-week high of $57.03.

Portland General Electric (NYSE:PORGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $636.61 million. Portland General Electric had a return on equity of 9.09% and a net margin of 9.66%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. Research analysts forecast that Portland General Electric will post 2.84 EPS for the current fiscal year.

Portland General Electric Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be issued a $0.452 dividend. The ex-dividend date is Friday, December 23rd. This represents a $1.81 annualized dividend and a dividend yield of 3.75%. Portland General Electric’s payout ratio is currently 65.34%.

Portland General Electric Company Profile

(Get Rating)

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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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