Jackson Wealth Management LLC grew its stake in shares of Portland General Electric Company (NYSE:POR) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,080 shares of the utilities provider’s stock after buying an additional 2,577 shares during the period. Jackson Wealth Management LLC owned 0.05% of Portland General Electric worth $2,240,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Huntington National Bank lifted 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 worth $128,000 after purchasing an additional 34 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Portland General Electric in the 2nd quarter worth approximately $141,000. Mark Sheptoff Financial Planning LLC lifted its holdings in Portland General Electric by 121.2% in the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $178,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Portland General Electric in the 2nd quarter worth approximately $202,000. 90.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. J P Morgan Chase & Co boosted their price target on Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. 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 “sell” rating to a “hold” rating in a report on Thursday, September 21st. Finally, Bank of America Corporation initiated coverage on Portland General Electric in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.
Shares of Portland General Electric Company (POR) traded up $0.01 on Friday, hitting $48.48. The stock had a trading volume of 187,495 shares, compared to its average volume of 730,240. The stock has a market cap of $4,319.18, a PE ratio of 21.08, a price-to-earnings-growth ratio of 5.65 and a beta of 0.29. Portland General Electric Company has a twelve month low of $40.71 and a twelve month high of $50.11. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.
Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The business had revenue of $515.00 million for the quarter, compared to analysts’ expectations of $497.85 million. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. analysts expect that Portland General Electric Company will post 2.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 26th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, December 22nd. Portland General Electric’s dividend payout ratio is currently 59.13%.
Portland General Electric Company Profile
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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