Wells Fargo & Company MN lessened its stake in shares of Portland General Electric (NYSE:POR) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 617,528 shares of the utilities provider’s stock after selling 19,563 shares during the quarter. Wells Fargo & Company MN owned about 0.69% of Portland General Electric worth $28,147,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its stake in Portland General Electric by 1.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,160,230 shares of the utilities provider’s stock worth $52,953,000 after acquiring an additional 13,390 shares during the period. APG Asset Management N.V. boosted its stake in Portland General Electric by 215.8% during the fourth quarter. APG Asset Management N.V. now owns 919,300 shares of the utilities provider’s stock worth $34,895,000 after buying an additional 628,200 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Portland General Electric by 3.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 774,853 shares of the utilities provider’s stock worth $35,318,000 after buying an additional 26,167 shares during the period. Wedge Capital Management L L P NC boosted its stake in Portland General Electric by 4.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 680,903 shares of the utilities provider’s stock worth $31,036,000 after buying an additional 29,846 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Portland General Electric by 5.4% during the fourth quarter. Bank of Montreal Can now owns 656,880 shares of the utilities provider’s stock worth $29,939,000 after purchasing an additional 33,899 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Bradley Young Jenkins sold 618 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 896 shares in the company, valued at $36,261.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.
Portland General Electric (POR) traded up $0.19 during trading hours on Wednesday, reaching $39.52. The company had a trading volume of 594,167 shares, compared to its average volume of 829,202. Portland General Electric has a 12-month low of $39.02 and a 12-month high of $50.11. The stock has a market cap of $3,520.00, a P/E ratio of 17.27, a PEG ratio of 6.14 and a beta of 0.25. 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 announced its earnings results on Friday, February 16th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $515.00 million for the quarter, compared to the consensus estimate of $514.60 million. Portland General Electric had a return on equity of 8.50% and a net margin of 9.31%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. equities research analysts predict that Portland General Electric will post 2.2 EPS for the current fiscal year.
The business 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 3.44%. Portland General Electric’s dividend payout ratio (DPR) is 59.39%.
Several research firms recently weighed in on POR. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Bank of America reduced their target price on shares of Portland General Electric from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. UBS Group initiated coverage on Portland General Electric in a research note on Friday, February 2nd. They set a “sell” rating and a $40.00 price target on the stock. Gabelli reiterated a “hold” rating on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, Guggenheim reissued a “hold” rating and issued a $48.00 price target on shares of Portland General Electric in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.61.
Portland General Electric Company 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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