Envestnet Portfolio Solutions Inc. Buys Shares of 12,482 Portland General Electric Company $POR

Envestnet Portfolio Solutions Inc. bought a new stake in Portland General Electric Company (NYSE:POR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,482 shares of the utilities provider’s stock, valued at approximately $549,000.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Portland General Electric during the third quarter worth $27,000. IFP Advisors Inc raised its holdings in shares of Portland General Electric by 1,291.7% during the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after buying an additional 620 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Portland General Electric by 80.6% during the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after buying an additional 370 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Portland General Electric in the second quarter valued at about $51,000. Finally, Allworth Financial LP grew its position in Portland General Electric by 136.9% in the second quarter. Allworth Financial LP now owns 1,343 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 776 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on POR. BTIG Research restated a “buy” rating and issued a $58.00 price target on shares of Portland General Electric in a research note on Friday. Mizuho set a $47.00 price objective on shares of Portland General Electric in a research note on Monday, November 3rd. Wells Fargo & Company boosted their target price on shares of Portland General Electric from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Barclays raised their price objective on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.42.

Portland General Electric Stock Down 0.1%

Shares of NYSE:POR opened at $50.23 on Friday. The firm has a market cap of $5.65 billion, a P/E ratio of 18.26, a P/E/G ratio of 4.40 and a beta of 0.67. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $51.14. The business has a fifty day simple moving average of $48.99 and a 200 day simple moving average of $45.60. The company has a quick ratio of 0.95, a current ratio of 1.08 and a debt-to-equity ratio of 1.25.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Analysts predict that Portland General Electric Company will post 3.21 earnings per share for the current year.

Portland General Electric Profile

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.