State of New Jersey Common Pension Fund D lowered its stake in shares of Portland General Electric (NYSE:POR) by 15.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,435 shares of the utilities provider’s stock after selling 12,044 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Portland General Electric worth $2,799,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. CI Investments Inc. purchased a new stake in Portland General Electric during the 3rd quarter worth approximately $30,000. IFP Advisors Inc lifted its stake in shares of Portland General Electric by 106.5% during the third quarter. IFP Advisors Inc now owns 956 shares of the utilities provider’s stock worth $34,000 after buying an additional 493 shares during the period. Private Ocean LLC purchased a new stake in shares of Portland General Electric during the third quarter valued at $36,000. Parallel Advisors LLC increased its position in shares of Portland General Electric by 7,592.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,000 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 987 shares during the period. Finally, Fifth Third Bancorp purchased a new position in Portland General Electric in the 3rd quarter worth $57,000. 90.99% of the stock is owned by hedge funds and other institutional investors.
Portland General Electric stock opened at $42.12 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.69 and a current ratio of 0.78. The company’s fifty day moving average price is $42.27 and its 200 day moving average price is $40.46. The stock has a market capitalization of $3.77 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.91 and a beta of 0.26. Portland General Electric has a 1 year low of $31.96 and a 1 year high of $62.34.
Portland General Electric (NYSE:POR) last released its earnings results on Thursday, February 18th. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. Portland General Electric had a net margin of 7.67% and a return on equity of 9.97%. The business had revenue of $556.00 million during the quarter, compared to analysts’ expectations of $553.33 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that Portland General Electric will post 2.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, March 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Wednesday, March 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.87%. Portland General Electric’s payout ratio is currently 68.20%.
Several brokerages have recently issued reports on POR. KeyCorp upgraded Portland General Electric from a “sector weight” rating to an “overweight” rating and set a $49.00 price objective for the company in a research note on Tuesday, January 12th. Zacks Investment Research lowered shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Finally, Mizuho cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, November 19th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $44.20.
Portland General Electric Company Profile
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2019, it owned an electric transmission system consisting of 1,264 circuit miles, including 287 circuit miles of 500 kilovolt line, 423 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line.
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