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

Vaughan Nelson Investment Management L.P. boosted its position in shares of Portland General Electric (NYSE:POR) by 72.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,259,845 shares of the utilities provider’s stock after acquiring an additional 530,020 shares during the period. Vaughan Nelson Investment Management L.P. owned 1.19% of Portland General Electric worth $60,346,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 worth $25,000 after purchasing an additional 514 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Portland General Electric in the 3rd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Portland General Electric during the first quarter worth approximately $26,000. Allworth Financial LP boosted its position in shares of Portland General Electric by 74.4% in the third quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 265 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Portland General Electric in the second quarter worth $33,000.

Insider Transactions at Portland General Electric

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

Portland General Electric Trading Up 1.7 %

Shares of POR opened at $46.65 on Friday. The stock has a 50 day simple moving average of $47.55 and a 200-day simple moving average of $45.93. 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 stock has a market cap of $4.92 billion, a PE ratio of 13.93, a PEG ratio of 1.19 and a beta of 0.59. Portland General Electric has a 1 year low of $39.13 and a 1 year high of $49.85.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same period in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Portland General Electric will post 3.11 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s dividend payout ratio (DPR) is currently 59.70%.

Analysts Set New Price Targets

Several research firms recently commented on POR. Bank of America initiated coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They set an “underperform” rating and a $47.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on Portland General Electric in a research note on Friday, September 20th. They set a “hold” rating and a $48.00 price target on the stock. StockNews.com upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.86.

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.