USA Financial Formulas Takes Position in Portland General Electric (NYSE:POR)

USA Financial Formulas purchased a new position in Portland General Electric (NYSE:POR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,620 shares of the utilities provider’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Portland General Electric in the 3rd quarter valued at about $25,000. Allworth Financial LP grew its holdings in Portland General Electric by 74.4% during the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 265 shares during the period. Versant Capital Management Inc grew its stake in shares of Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Quest Partners LLC bought a new position in shares of Portland General Electric in the second quarter valued at $40,000. Finally, Quarry LP lifted its holdings in shares of Portland General Electric by 962.3% during the second quarter. Quarry LP now owns 1,636 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 1,482 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on POR shares. Jefferies Financial Group assumed coverage on Portland General Electric in a report on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. KeyCorp lowered their price target on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, UBS Group restated a “neutral” rating and issued a $47.00 price target (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Portland General Electric presently has an average rating of “Hold” and a consensus target price of $48.88.

Portland General Electric Stock Performance

NYSE:POR opened at $41.90 on Friday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85. The firm has a 50 day moving average of $44.95 and a 200-day moving average of $46.26. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28.

Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $882.66 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Portland General Electric will post 3.11 EPS 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.