MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Boosts Stake in Portland General Electric (NYSE:POR)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lifted its holdings in Portland General Electric (NYSE:PORGet Rating) by 30.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,153 shares of the utilities provider’s stock after buying an additional 54,978 shares during the period. Portland General Electric makes up 1.4% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings, making the stock its 18th biggest position. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.26% of Portland General Electric worth $12,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC increased its position in shares of Portland General Electric by 3.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,086 shares of the utilities provider’s stock valued at $1,963,000 after acquiring an additional 1,134 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $3,615,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Portland General Electric by 9.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,263 shares of the utilities provider’s stock valued at $2,977,000 after purchasing an additional 4,851 shares during the period. CWM LLC purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $44,000. Finally, Xponance Inc. purchased a new position in shares of Portland General Electric in the fourth quarter valued at approximately $225,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Portland General Electric Stock Down 0.4 %

Shares of NYSE:POR traded down $0.20 during trading on Friday, hitting $52.48. 599,196 shares of the company were exchanged, compared to its average volume of 960,985. The stock has a market capitalization of $4.68 billion, a P/E ratio of 19.58, a PEG ratio of 5.00 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.87 and a quick ratio of 0.77. Portland General Electric has a 12-month low of $45.02 and a 12-month high of $57.03. The firm’s 50 day moving average price is $49.11 and its 200-day moving average price is $50.83.

Portland General Electric (NYSE:PORGet Rating) last announced its earnings results on Thursday, July 28th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. The business had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $531.67 million. Portland General Electric had a net margin of 9.73% and a return on equity of 8.87%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. On average, research analysts predict that Portland General Electric will post 2.82 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be issued a $0.4525 dividend. The ex-dividend date is Friday, September 23rd. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.45%. Portland General Electric’s payout ratio is 67.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on POR. The Goldman Sachs Group raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $52.00 in a research note on Thursday, June 2nd. Barclays decreased their price target on shares of Portland General Electric from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. StockNews.com upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Monday, August 1st. Finally, Wells Fargo & Company lifted their price target on shares of Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.67.

Insider Activity

In other Portland General Electric news, Director Dawn L. Farrell bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were acquired at an average cost of $48.52 per share, with a total value of $194,080.00. Following the acquisition, the director now directly owns 9,223 shares of the company’s stock, valued at approximately $447,499.96. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

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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