First Citizens Bank & Trust Co. Buys New Stake in Portland General Electric Company $POR

First Citizens Bank & Trust Co. bought a new stake in shares of Portland General Electric Company (NYSE:POR) during the third quarter, HoldingsChannel reports. The fund bought 11,897 shares of the utilities provider’s stock, valued at approximately $523,000.

A number of other institutional investors also recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC lifted its holdings in Portland General Electric by 38.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 44,777 shares of the utilities provider’s stock valued at $1,819,000 after purchasing an additional 12,518 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Portland General Electric by 143.8% in the third quarter. SG Americas Securities LLC now owns 88,381 shares of the utilities provider’s stock valued at $3,889,000 after buying an additional 52,127 shares during the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of Portland General Electric by 24.1% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,459,258 shares of the utilities provider’s stock valued at $221,810,000 after buying an additional 1,058,623 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Portland General Electric during the second quarter valued at approximately $376,000. Finally, Envestnet Asset Management Inc. boosted its position in Portland General Electric by 5.5% during the second quarter. Envestnet Asset Management Inc. now owns 513,398 shares of the utilities provider’s stock worth $20,859,000 after acquiring an additional 26,753 shares during the last quarter.

Analyst Ratings Changes

POR has been the topic of a number of recent analyst reports. BTIG Research reissued a “buy” rating on shares of Portland General Electric in a research note on Tuesday, December 30th. Barclays upped their target price on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. UBS Group decreased their price target on Portland General Electric from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.92.

Portland General Electric Stock Performance

Portland General Electric stock opened at $50.48 on Wednesday. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14. The firm has a market capitalization of $5.68 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 4.35 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08. The stock’s 50 day moving average price is $48.93 and its 200 day moving average price is $45.47.

Portland General Electric (NYSE:POR) last announced its earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm 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 company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Portland General Electric Company will post 3.21 EPS for the current fiscal 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.