Voya Investment Management LLC Raises Position in Portland General Electric Company $POR

Voya Investment Management LLC raised its position in shares of Portland General Electric Company (NYSE:POR) by 50.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,712 shares of the utilities provider’s stock after acquiring an additional 64,460 shares during the quarter. Voya Investment Management LLC owned approximately 0.18% of Portland General Electric worth $8,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in POR. Raymond James Financial Inc. lifted its stake in shares of Portland General Electric by 4.9% in the 1st quarter. Raymond James Financial Inc. now owns 172,630 shares of the utilities provider’s stock valued at $7,699,000 after purchasing an additional 7,998 shares during the period. Hsbc Holdings PLC raised its holdings in Portland General Electric by 404.2% in the first quarter. Hsbc Holdings PLC now owns 46,981 shares of the utilities provider’s stock worth $2,087,000 after purchasing an additional 37,663 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Portland General Electric by 14.2% in the first quarter. Ameriprise Financial Inc. now owns 978,896 shares of the utilities provider’s stock worth $43,671,000 after purchasing an additional 121,559 shares in the last quarter. Walleye Capital LLC purchased a new position in Portland General Electric during the first quarter valued at $253,000. Finally, Corebridge Financial Inc. boosted its holdings in shares of Portland General Electric by 0.4% during the 1st quarter. Corebridge Financial Inc. now owns 171,012 shares of the utilities provider’s stock valued at $7,627,000 after buying an additional 696 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on POR shares. Mizuho set a $47.00 target price on shares of Portland General Electric in a research report on Monday, November 3rd. Weiss Ratings upgraded Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. LADENBURG THALM/SH SH reaffirmed a “sell” rating and issued a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Wells Fargo & Company began coverage on shares of Portland General Electric in a research report on Monday, October 27th. They set an “equal weight” rating and a $45.00 price objective on the stock. Finally, UBS Group decreased their target price on shares of Portland General Electric from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.55.

Portland General Electric Trading Down 0.3%

Shares of NYSE:POR opened at $47.33 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $51.14. The company has a market cap of $5.32 billion, a P/E ratio of 17.21, a PEG ratio of 4.34 and a beta of 0.67. The stock’s fifty day moving average price is $47.98 and its 200-day moving average price is $44.04.

Portland General Electric (NYSE:POR) last issued its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.Portland General Electric’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Sell-side analysts expect that Portland General Electric Company will post 3.21 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 Thursday, January 15th. Investors of record on Monday, December 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 4.4%. Portland General Electric’s dividend payout ratio is 76.36%.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.