Schroder Investment Management Group grew its position in Portland General Electric (NYSE:POR) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,859 shares of the utilities provider’s stock after purchasing an additional 3,124 shares during the quarter. Schroder Investment Management Group owned about 0.29% of Portland General Electric worth $12,074,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. bought a new stake in Portland General Electric during the second quarter worth $141,000. Mark Sheptoff Financial Planning LLC lifted its stake in Portland General Electric by 121.2% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Portland General Electric by 52.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,352 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Portland General Electric during the second quarter worth $202,000. Finally, Breton Hill Capital Ltd. bought a new stake in Portland General Electric during the third quarter worth $204,000. 92.62% of the stock is currently owned by institutional investors.
Shares of Portland General Electric (POR) traded up $0.43 during trading on Friday, reaching $47.79. The company’s stock had a trading volume of 957,617 shares, compared to its average volume of 524,265. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.95. Portland General Electric has a 52-week low of $42.35 and a 52-week high of $50.11. The firm has a market cap of $4,257.71, a P/E ratio of 20.78, a P/E/G ratio of 5.57 and a beta of 0.30.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. The firm had revenue of $515.00 million during the quarter, compared to the consensus estimate of $497.85 million. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. analysts forecast that Portland General Electric will post 2.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 26th will be paid a $0.34 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.85%. Portland General Electric’s dividend payout ratio is presently 59.13%.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday. J P Morgan Chase & Co increased their price target on Portland General Electric from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. BidaskClub raised Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Bank of America initiated coverage on Portland General Electric in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.00.
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About Portland General Electric
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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