31,300 Portland General Electric Company $POR Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Portland General Electric Company (NYSE:POR) by 68.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,000 shares of the utilities provider’s stock after purchasing an additional 31,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Portland General Electric were worth $3,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Portland General Electric by 7.4% in the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock worth $970,240,000 after purchasing an additional 1,292,219 shares during the last quarter. State Street Corp lifted its position in shares of Portland General Electric by 8.0% in the second quarter. State Street Corp now owns 5,019,860 shares of the utilities provider’s stock worth $262,810,000 after buying an additional 372,165 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Portland General Electric by 31.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider’s stock worth $120,750,000 after buying an additional 553,570 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Portland General Electric by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,831,142 shares of the utilities provider’s stock valued at $96,629,000 after buying an additional 18,146 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Portland General Electric by 60.6% during the first quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock valued at $87,622,000 after buying an additional 626,223 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on POR shares. UBS Group cut their price target on Portland General Electric from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, September 28th. LADENBURG THALM/SH SH raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price objective on the stock in a report on Thursday, August 13th. Weiss Ratings cut Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Wells Fargo & Company lowered their target price on Portland General Electric from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.56.

Portland General Electric Trading Up 2.5%

Shares of NYSE POR opened at $45.55 on Tuesday. Portland General Electric Company has a 1-year low of $43.26 and a 1-year high of $54.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. The business’s 50 day moving average is $46.40 and its two-hundred day moving average is $49.98. The stock has a market capitalization of $5.36 billion, a P/E ratio of 19.55, a PEG ratio of 2.68 and a beta of 0.49.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.05). The company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. Portland General Electric’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, research analysts expect that Portland General Electric Company will post 3.22 EPS for the current year.

Portland General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 22nd. Portland General Electric’s dividend payout ratio is presently 94.42%.

Portland General Electric Company Profile

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.