Envestnet Portfolio Solutions Inc. Invests $549,000 in Portland General Electric Company $POR

Envestnet Portfolio Solutions Inc. bought a new position in shares of Portland General Electric Company (NYSE:POR) in the third quarter, Holdings Channel.com reports. The fund bought 12,482 shares of the utilities provider’s stock, valued at approximately $549,000.

A number of other institutional investors have also bought and sold shares of POR. Root Financial Partners LLC bought a new position in shares of Portland General Electric in the 3rd quarter worth about $27,000. IFP Advisors Inc grew its stake in Portland General Electric by 1,291.7% during the second quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 620 shares during the period. Bell Investment Advisors Inc increased its holdings in Portland General Electric by 80.6% in the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 370 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Portland General Electric in the second quarter valued at approximately $51,000. Finally, Allworth Financial LP boosted its holdings in shares of Portland General Electric by 136.9% during the 2nd quarter. Allworth Financial LP now owns 1,343 shares of the utilities provider’s stock worth $55,000 after buying an additional 776 shares in the last quarter.

Portland General Electric Price Performance

Shares of NYSE POR opened at $50.23 on Friday. The company has a market capitalization of $5.65 billion, a PE ratio of 18.26, a PEG ratio of 4.40 and a beta of 0.67. The company has a quick ratio of 0.95, a current ratio of 1.08 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average price is $48.99 and its 200-day moving average price is $45.60. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $51.14.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $975.64 million. During the same period last year, the company posted $0.90 earnings per share. Portland General Electric’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Portland General Electric Company will post 3.21 EPS for the current year.

Wall Street Analysts Forecast Growth

POR has been the subject of several research analyst reports. Mizuho set a $47.00 price objective on shares of Portland General Electric in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. Jefferies Financial Group upped their price objective on shares of Portland General Electric from $43.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, LADENBURG THALM/SH SH reaffirmed a “sell” rating and issued a $43.00 price objective on shares of Portland General Electric in a research note on Thursday, December 4th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.42.

Portland General Electric Company 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.