Whittier Trust Co. grew its stake in shares of Portland General Electric (NYSE:POR) by 4.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 50,471 shares of the utilities provider’s stock after acquiring an additional 2,062 shares during the quarter. Whittier Trust Co. owned about 0.06% of Portland General Electric worth $2,734,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in POR. IMA Wealth Inc. acquired a new stake in shares of Portland General Electric in the second quarter valued at about $43,000. Foundry Partners LLC grew its stake in Portland General Electric by 10.5% during the second quarter. Foundry Partners LLC now owns 355,058 shares of the utilities provider’s stock worth $19,233,000 after purchasing an additional 33,723 shares during the period. Cornerstone Advisors Inc. acquired a new stake in Portland General Electric during the second quarter worth approximately $122,000. Unigestion Holding SA grew its stake in Portland General Electric by 104.4% during the second quarter. Unigestion Holding SA now owns 93,988 shares of the utilities provider’s stock worth $5,091,000 after purchasing an additional 48,009 shares during the period. Finally, Scout Investments Inc. grew its stake in Portland General Electric by 16.3% during the second quarter. Scout Investments Inc. now owns 657,412 shares of the utilities provider’s stock worth $35,612,000 after purchasing an additional 92,060 shares during the period. Institutional investors and hedge funds own 94.31% of the company’s stock.
Separately, Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.00.
NYSE:POR traded down $1.00 on Friday, hitting $54.40. The stock had a trading volume of 1,410,868 shares, compared to its average volume of 607,502. The company’s fifty day moving average price is $54.94. The company has a market cap of $4.95 billion, a P/E ratio of 22.95, a PEG ratio of 4.63 and a beta of 0.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.82. Portland General Electric has a 52 week low of $43.73 and a 52 week high of $55.98.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.23). The firm had revenue of $460.00 million during the quarter, compared to the consensus estimate of $466.66 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, analysts anticipate that Portland General Electric will post 2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be issued a $0.385 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $1.54 annualized dividend and a yield of 2.83%. Portland General Electric’s payout ratio is currently 64.98%.
About Portland General Electric
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, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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