Gabelli Funds LLC Has $12.48 Million Stock Position in Portland General Electric (NYSE:POR)

Gabelli Funds LLC lifted its stake in shares of Portland General Electric (NYSE:PORGet Rating) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,900 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Gabelli Funds LLC owned about 0.26% of Portland General Electric worth $12,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Covestor Ltd bought a new stake in Portland General Electric during the 4th quarter worth $29,000. CWM LLC bought a new stake in shares of Portland General Electric during the fourth quarter worth about $44,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Portland General Electric in the third quarter valued at approximately $54,000. Confluence Wealth Services Inc. bought a new position in Portland General Electric in the 4th quarter valued at approximately $56,000. Finally, Marshall Wace North America L.P. acquired a new stake in Portland General Electric during the 1st quarter worth approximately $57,000. Institutional investors own 91.92% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Barclays raised shares of Portland General Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $53.00 to $57.00 in a research note on Tuesday, April 19th. Wells Fargo & Company lifted their target price on Portland General Electric from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. initiated coverage on Portland General Electric in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group assumed coverage on Portland General Electric in a research note on Monday, April 25th. They issued an “underperform” rating and a $55.00 price objective on the stock. Finally, Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.20.

In other Portland General Electric news, Director Kathryn Jean Jackson sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $48.79, for a total value of $243,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry Neal Bekkedahl sold 2,500 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $54.73, for a total transaction of $136,825.00. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

POR stock opened at $48.09 on Monday. Portland General Electric has a 1-year low of $45.40 and a 1-year high of $57.03. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $52.03 and a 200-day moving average price of $51.67. The firm has a market cap of $4.29 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 4.29 and a beta of 0.53.

Portland General Electric (NYSE:PORGet Rating) last issued its earnings results on Thursday, April 28th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.18). The business had revenue of $626.00 million during the quarter, compared to the consensus estimate of $610.48 million. Portland General Electric had a return on equity of 7.74% and a net margin of 8.62%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, analysts forecast that Portland General Electric will post 2.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Monday, June 27th will be issued a $0.4525 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 3.76%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, June 24th. Portland General Electric’s dividend payout ratio (DPR) is presently 74.14%.

Portland General Electric Company Profile (Get Rating)

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, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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