Assenagon Asset Management S.A. Buys New Shares in Portland General Electric (NYSE:POR)

Assenagon Asset Management S.A. purchased a new position in shares of Portland General Electric (NYSE:POR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 746,283 shares of the utilities provider’s stock, valued at approximately $32,553,000. Assenagon Asset Management S.A. owned 0.71% of Portland General Electric as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Portland General Electric during the third quarter worth about $25,000. Allworth Financial LP raised its position in Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares during the last quarter. Versant Capital Management Inc lifted its stake in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 450 shares during the period. Quest Partners LLC purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at $40,000. Finally, Quarry LP increased its stake in shares of Portland General Electric by 962.3% in the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 1,482 shares during the period.

Portland General Electric Price Performance

Portland General Electric stock opened at $41.90 on Friday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.03 and a beta of 0.60. The company’s fifty day moving average price is $44.95 and its 200 day moving average price is $46.26. 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 has a 1 year low of $39.13 and a 1 year high of $49.85.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group started coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 price target for the company. KeyCorp lowered their price objective 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $47.00 target price (down from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and a consensus price target of $48.88.

About Portland General Electric

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.