Vaughan Nelson Investment Management L.P. Raises Stake in Portland General Electric (NYSE:POR)

Vaughan Nelson Investment Management L.P. lifted its stake in Portland General Electric (NYSE:POR) by 4.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,311,781 shares of the utilities provider’s stock after buying an additional 51,936 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Portland General Electric were worth $57,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in shares of Portland General Electric during the fourth quarter worth about $1,523,000. Choreo LLC lifted its position in Portland General Electric by 1.4% during the fourth quarter. Choreo LLC now owns 26,511 shares of the utilities provider’s stock valued at $1,166,000 after buying an additional 371 shares during the period. Spirit of America Management Corp NY boosted its stake in Portland General Electric by 85.8% during the fourth quarter. Spirit of America Management Corp NY now owns 11,150 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 5,150 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Portland General Electric by 2.4% in the 4th quarter. Retirement Systems of Alabama now owns 128,226 shares of the utilities provider’s stock worth $5,593,000 after buying an additional 3,024 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Portland General Electric during the fourth quarter valued at $1,963,000.

Portland General Electric Trading Down 1.0 %

POR opened at $40.92 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. The stock’s fifty day moving average is $43.08 and its two-hundred day moving average is $45.94. The company has a market capitalization of $4.32 billion, a P/E ratio of 12.21, a PEG ratio of 1.05 and a beta of 0.61. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group reiterated a “neutral” rating and set a $47.00 price objective (down previously from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Bank of America dropped their price target on Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research note on Tuesday, December 24th. Jefferies Financial Group dropped their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, KeyCorp decreased 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.38.

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.