Vanguard Group Inc. raised its position in Portland General Electric Company (NYSE:POR) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,964,752 shares of the utilities provider’s stock after acquiring an additional 200,707 shares during the period. Vanguard Group Inc. owned about 8.94% of Portland General Electric worth $363,909,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of POR. Huntington National Bank raised its holdings in Portland General Electric by 1.2% in the 2nd quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 34 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Portland General Electric by 52.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock valued at $178,000 after acquiring an additional 1,352 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Portland General Electric in the 2nd quarter valued at approximately $202,000. BlueMountain Capital Management LLC raised its holdings in Portland General Electric by 0.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 5,489 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 17 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Portland General Electric by 19.8% in the 1st quarter. Blair William & Co. IL now owns 5,737 shares of the utilities provider’s stock valued at $259,000 after acquiring an additional 950 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.
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Portland General Electric Company (NYSE POR) opened at 46.07 on Friday. The firm has a market capitalization of $4.10 billion, a PE ratio of 20.57 and a beta of 0.28. Portland General Electric Company has a one year low of $40.28 and a one year high of $48.22. The stock has a 50 day moving average price of $46.76 and a 200-day moving average price of $45.99.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $449.00 million during the quarter, compared to the consensus estimate of $465.70 million. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities analysts forecast that Portland General Electric Company will post $2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, September 22nd. Portland General Electric’s dividend payout ratio (DPR) is currently 60.71%.
Several equities analysts have commented on POR shares. BidaskClub raised Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Finally, Williams Capital cut Portland General Electric from a “hold” rating to a “sell” rating and dropped their target price for the stock from $44.00 to $41.00 in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $44.00.
About Portland General Electric
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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