Bailard Inc. Acquires 1,500 Shares of Portland General Electric (POR)

Bailard Inc. raised its holdings in shares of Portland General Electric (NYSE:POR) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,230 shares of the utilities provider’s stock after buying an additional 1,500 shares during the period. Bailard Inc.’s holdings in Portland General Electric were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Mutual of America Capital Management LLC raised its stake in shares of Portland General Electric by 3.3% during the third quarter. Mutual of America Capital Management LLC now owns 102,507 shares of the utilities provider’s stock valued at $4,675,000 after purchasing an additional 3,310 shares during the period. GAM Holding AG increased its stake in shares of Portland General Electric by 260.5% in the third quarter. GAM Holding AG now owns 17,876 shares of the utilities provider’s stock worth $815,000 after buying an additional 12,918 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Portland General Electric by 123.0% in the third quarter. Allianz Asset Management GmbH now owns 170,838 shares of the utilities provider’s stock worth $7,791,000 after buying an additional 94,246 shares during the last quarter. Texas Yale Capital Corp. increased its stake in shares of Portland General Electric by 16.1% in the third quarter. Texas Yale Capital Corp. now owns 11,150 shares of the utilities provider’s stock worth $509,000 after buying an additional 1,550 shares during the last quarter. Finally, Eaton Vance Management increased its stake in shares of Portland General Electric by 17.8% in the third quarter. Eaton Vance Management now owns 162,272 shares of the utilities provider’s stock worth $7,401,000 after buying an additional 24,518 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

POR stock opened at $49.84 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.79. Portland General Electric has a 1-year low of $39.02 and a 1-year high of $50.13. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 6.38 and a beta of 0.19.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 26th. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $527.63 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that Portland General Electric will post 2.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 26th will be paid a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, December 24th. This represents a $1.45 annualized dividend and a yield of 2.91%. Portland General Electric’s payout ratio is 63.32%.

A number of analysts recently issued reports on POR shares. ValuEngine upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Friday, October 12th. Wells Fargo & Co lifted their price target on shares of Portland General Electric from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Bank of America upgraded shares of Portland General Electric from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 30th. Finally, Barclays lifted their price target on shares of Portland General Electric from $42.00 to $43.00 and gave the stock a “sell” rating in a research note on Monday, November 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Portland General Electric currently has an average rating of “Hold” and a consensus target price of $43.94.

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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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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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