State Street Corp grew its stake in shares of Portofino Resources Inc (NYSE:POR) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,965,713 shares of the company’s stock after acquiring an additional 79,541 shares during the quarter. State Street Corp owned about 2.21% of Portofino Resources worth $89,810,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of POR. Neuberger Berman Group LLC acquired a new position in shares of Portofino Resources during the first quarter valued at about $293,000. Teachers Advisors LLC increased its holdings in shares of Portofino Resources by 2.6% during the first quarter. Teachers Advisors LLC now owns 151,178 shares of the company’s stock valued at $6,715,000 after acquiring an additional 3,849 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Portofino Resources by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,764,045 shares of the company’s stock valued at $344,879,000 after acquiring an additional 256,914 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Portofino Resources by 3.6% during the first quarter. Geode Capital Management LLC now owns 694,480 shares of the company’s stock valued at $30,848,000 after acquiring an additional 23,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Portofino Resources by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,452,037 shares of the company’s stock valued at $64,500,000 after acquiring an additional 7,949 shares in the last quarter.
Several equities analysts recently weighed in on POR shares. Zacks Investment Research downgraded shares of Portofino Resources from a “buy” rating to a “hold” rating in a report on Saturday, October 14th. KeyCorp reiterated a “hold” rating on shares of Portofino Resources in a report on Friday, September 1st. BidaskClub upgraded shares of Portofino Resources from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. J P Morgan Chase & Co increased their price target on shares of Portofino Resources from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Bank of America Corporation started coverage on shares of Portofino Resources in a report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Portofino Resources currently has an average rating of “Hold” and a consensus target price of C$46.00.
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Portofino Resources Inc (NYSE:POR) traded down C$0.27 during trading on Friday, reaching C$48.28. The company’s stock had a trading volume of 475,600 shares, compared to its average volume of 1,000,000. Portofino Resources Inc has a 1-year low of C$40.71 and a 1-year high of C$48.69.
Portofino Resources (NYSE:POR) last released its quarterly earnings data on Friday, October 27th. The company reported C$0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.38 by C$0.06. Portofino Resources had a return on equity of 5.37% and a net margin of 7.13%. The business had revenue of C$515.00 million for the quarter, compared to analyst estimates of C$497.85 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th will be given a $0.34 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.36 annualized dividend and a yield of 2.82%.
Portofino Resources 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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