QS Investors LLC cut its stake in shares of Portland General Electric (NYSE:POR) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,342 shares of the utilities provider’s stock after selling 2,588 shares during the quarter. QS Investors LLC owned 0.11% of Portland General Electric worth $4,574,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Portland General Electric by 8.2% during the 4th quarter. BlackRock Inc. now owns 8,922,780 shares of the utilities provider’s stock worth $406,703,000 after buying an additional 677,814 shares during the last quarter. APG Asset Management N.V. grew its holdings in Portland General Electric by 215.8% in the 4th quarter. APG Asset Management N.V. now owns 919,300 shares of the utilities provider’s stock valued at $34,895,000 after buying an additional 628,200 shares during the period. Renaissance Technologies LLC grew its holdings in Portland General Electric by 33.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,840,200 shares of the utilities provider’s stock valued at $83,876,000 after buying an additional 457,030 shares during the period. American Century Companies Inc. grew its holdings in Portland General Electric by 388.7% in the 4th quarter. American Century Companies Inc. now owns 549,141 shares of the utilities provider’s stock valued at $25,030,000 after buying an additional 436,771 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Portland General Electric by 79.0% in the 3rd quarter. Wells Fargo & Company MN now owns 637,091 shares of the utilities provider’s stock valued at $29,078,000 after buying an additional 281,151 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. JPMorgan Chase reduced their price objective on Portland General Electric from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 27th. Bank of America lowered Portland General Electric from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $41.00 to $39.00 in a research note on Tuesday, March 6th. Mizuho began coverage on Portland General Electric in a research report on Wednesday, February 14th. They set a “buy” rating and a $43.50 price target on the stock. Finally, Guggenheim reissued a “hold” rating and set a $40.00 price target on shares of Portland General Electric in a research report on Friday, February 23rd. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.50.
Shares of POR traded down $0.22 during trading on Friday, reaching $40.21. The company’s stock had a trading volume of 527,064 shares, compared to its average volume of 755,799. Portland General Electric has a twelve month low of $39.02 and a twelve month high of $50.11. The firm has a market cap of $3,602.90, a price-to-earnings ratio of 17.66, a PEG ratio of 6.34 and a beta of 0.22. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.00.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, February 16th. The utilities provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Portland General Electric had a return on equity of 8.50% and a net margin of 9.31%. The business had revenue of $515.00 million during the quarter, compared to the consensus estimate of $514.60 million. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. equities analysts expect that Portland General Electric will post 2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, March 26th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, March 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.38%. Portland General Electric’s dividend payout ratio (DPR) is 59.39%.
In other news, VP Bradley Young Jenkins sold 618 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.47, for a total value of $25,010.46. Following the completion of the sale, the vice president now directly owns 896 shares in the company, valued at approximately $36,261.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.
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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, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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