Vaughan Nelson Investment Management L.P. Has $60.35 Million Stock Holdings in Portland General Electric (NYSE:POR)

Vaughan Nelson Investment Management L.P. raised its position in Portland General Electric (NYSE:POR) by 72.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,259,845 shares of the utilities provider’s stock after buying an additional 530,020 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Portland General Electric were worth $60,346,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Portland General Electric in the third quarter valued at about $25,000. LRI Investments LLC acquired a new position in Portland General Electric during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its position in Portland General Electric by 767.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Allworth Financial LP boosted its stake in shares of Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric during the 2nd quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on POR. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays cut their price target on Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Evercore ISI started coverage on Portland General Electric in a research note on Wednesday, September 25th. They set an “outperform” rating and a $54.00 price objective for the company. Bank of America initiated coverage on Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.86.

Portland General Electric Stock Performance

POR stock opened at $46.65 on Friday. Portland General Electric has a 1-year low of $39.13 and a 1-year high of $49.85. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The firm has a market cap of $4.92 billion, a PE ratio of 13.93, a P/E/G ratio of 1.19 and a beta of 0.59. The business’s 50-day moving average price is $47.55 and its two-hundred day moving average price is $45.93.

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

Portland General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, December 24th. Portland General Electric’s dividend payout ratio is 59.70%.

Insider Buying and Selling

In other news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Portland General Electric Company 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.