Newbridge Financial Services Group Inc. Makes New Investment in Portland General Electric (NYSE:POR)

Newbridge Financial Services Group Inc. acquired a new position in Portland General Electric (NYSE:POR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 658 shares of the utilities provider’s stock, valued at approximately $29,000.

Several other institutional investors have also added to or reduced their stakes in POR. Zimmer Partners LP lifted its stake in Portland General Electric by 107.0% in the third quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider’s stock worth $88,258,000 after purchasing an additional 952,214 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Portland General Electric in the fourth quarter worth about $32,553,000. Vaughan Nelson Investment Management L.P. lifted its stake in Portland General Electric by 72.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,259,845 shares of the utilities provider’s stock worth $60,346,000 after purchasing an additional 530,020 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Portland General Electric by 69.8% in the third quarter. Point72 Asset Management L.P. now owns 292,880 shares of the utilities provider’s stock worth $14,029,000 after purchasing an additional 120,380 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in Portland General Electric by 26.6% in the third quarter. Systematic Financial Management LP now owns 537,862 shares of the utilities provider’s stock worth $25,764,000 after purchasing an additional 113,161 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on POR. Bank of America decreased their price target on shares of 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. JPMorgan Chase & Co. lifted their price target 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. Barclays decreased their price target on shares of Portland General Electric from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Jefferies Financial Group decreased their price target 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 shares of Portland General Electric from $52.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.38.

Portland General Electric Stock Performance

Shares of NYSE:POR opened at $41.93 on Wednesday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.05 and a beta of 0.61. Portland General Electric has a 52 week low of $39.42 and a 52 week high of $49.85. 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 firm has a 50 day moving average of $42.96 and a 200 day moving average of $45.87.

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.