Burney Co. Has $1.24 Million Stock Holdings in Portland General Electric (NYSE:POR)

Burney Co. lowered its holdings in shares of Portland General Electric (NYSE:POR) by 1.6% in the 4th quarter, HoldingsChannel reports. The firm owned 28,519 shares of the utilities provider’s stock after selling 455 shares during the period. Burney Co.’s holdings in Portland General Electric were worth $1,244,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in POR. Allworth Financial LP boosted its holdings in shares of Portland General Electric by 74.4% during the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock worth $30,000 after buying an additional 265 shares in the last quarter. First Pacific Financial boosted its stake in Portland General Electric by 2.9% during the third quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Portland General Electric by 20.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 413 shares during the period. Versant Capital Management Inc raised its holdings in shares of Portland General Electric by 151.0% during the fourth 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. Finally, Townsquare Capital LLC boosted its holdings in Portland General Electric by 6.4% in the third quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 458 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on POR shares. StockNews.com upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. KeyCorp decreased their target price on shares of 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. UBS Group restated a “neutral” rating and issued a $47.00 target price (down previously from $52.00) on shares of Portland General Electric in a report on Friday, January 3rd. Bank of America cut their price target on 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. Finally, JPMorgan Chase & Co. increased their price objective on Portland General Electric from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.88.

Portland General Electric Trading Up 1.5 %

NYSE:POR opened at $41.90 on Friday. Portland General Electric has a 52 week low of $39.13 and a 52 week high of $49.85. The firm has a 50-day moving average price of $44.95 and a two-hundred day moving average price of $46.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. Portland General Electric’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, equities analysts expect that Portland General Electric will post 3.11 earnings per share for the current fiscal year.

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.