Brandywine Global Investment Management LLC Buys 336,823 Shares of Portland General Electric (NYSE:POR)

Brandywine Global Investment Management LLC increased its stake in Portland General Electric (NYSE:POR) by 1,510.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,126 shares of the utilities provider’s stock after purchasing an additional 336,823 shares during the period. Brandywine Global Investment Management LLC owned 0.34% of Portland General Electric worth $15,665,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth $29,000. Versant Capital Management Inc lifted its position in Portland General Electric by 151.0% during the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. Cullen Frost Bankers Inc. lifted its position in Portland General Electric by 1,538.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 769 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Portland General Electric by 352.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,096 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Portland General Electric during the fourth quarter worth approximately $71,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on POR. Jefferies Financial Group cut their price objective on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Evercore ISI raised their price target on Portland General Electric from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 18th. KeyCorp decreased their target price on Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, Bank of America cut their price target on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating on the stock in a research report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling at Portland General Electric

In other news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of Portland General Electric stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $41.32, for a total value of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares in the company, valued at $1,320,587.20. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Portland General Electric Stock Performance

Shares of POR stock opened at $44.39 on Monday. The company has a market capitalization of $4.86 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. Portland General Electric has a 52 week low of $40.05 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The company’s 50 day moving average price is $43.01 and its two-hundred day moving average price is $45.02.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. Portland General Electric had a net margin of 9.13% and a return on equity of 9.10%. During the same period in the previous year, the firm posted $0.67 EPS. On average, analysts expect that Portland General Electric will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Portland General Electric’s payout ratio is presently 66.45%.

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.