Portland General Electric (NYSE:POR) Shares Bought by Ferguson Wellman Capital Management Inc.

Posted by Defense World Staff on Mar 23rd, 2023

Ferguson Wellman Capital Management Inc. boosted its position in shares of Portland General Electric (NYSE:POR – Get Rating) by 54.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,561 shares of the utilities provider’s stock after acquiring an additional 2,662 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Portland General Electric were worth $370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its holdings in Portland General Electric by 50.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 70,636 shares of the utilities provider’s stock worth $3,414,000 after acquiring an additional 23,660 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Portland General Electric by 8.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 412,686 shares of the utilities provider’s stock worth $19,946,000 after acquiring an additional 31,161 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Portland General Electric by 35.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 720,092 shares of the utilities provider’s stock worth $34,802,000 after acquiring an additional 187,671 shares in the last quarter. Barclays PLC grew its holdings in Portland General Electric by 35.8% during the 3rd quarter. Barclays PLC now owns 141,570 shares of the utilities provider’s stock worth $6,153,000 after acquiring an additional 37,334 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in Portland General Electric by 4.1% during the 3rd quarter. Systematic Financial Management LP now owns 247,994 shares of the utilities provider’s stock worth $10,778,000 after acquiring an additional 9,664 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $52.00 in a report on Tuesday, March 14th. Wells Fargo & Company upped their target price on shares of Portland General Electric from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. StockNews.com assumed coverage on shares of Portland General Electric in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Credit Suisse Group upped their target price on shares of Portland General Electric from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, February 21st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.00.

Portland General Electric Stock Down 2.4 %

POR stock opened at $46.18 on Thursday. The company has a fifty day moving average price of $47.66 and a 200 day moving average price of $47.48. Portland General Electric has a 12 month low of $41.58 and a 12 month high of $57.03. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.04 and a beta of 0.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.81 and a quick ratio of 0.75.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, March 27th will be given a $0.4525 dividend. This is an increase from Portland General Electric’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, March 24th. This represents a $1.81 annualized dividend and a yield of 3.92%. Portland General Electric’s dividend payout ratio is 69.62%.

Insiders Place Their Bets

In other Portland General Electric news, VP Brett Michael Sims sold 2,050 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $47.00, for a total transaction of $96,350.00. Following the completion of the transaction, the vice president now owns 10,978 shares in the company, valued at approximately $515,966. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by insiders.

Portland General Electric Profile

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.