Comerica Bank raised its position in shares of Portland General Electric (NYSE:POR) by 35.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,108 shares of the utilities provider’s stock after purchasing an additional 38,587 shares during the period. Comerica Bank owned 0.17% of Portland General Electric worth $5,948,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portland General Electric by 39.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,429 shares of the utilities provider’s stock valued at $247,000 after buying an additional 1,523 shares during the last quarter. Sei Investments Co. boosted its stake in Portland General Electric by 2.0% in the 4th quarter. Sei Investments Co. now owns 94,870 shares of the utilities provider’s stock valued at $4,324,000 after buying an additional 1,875 shares in the last quarter. Schroder Investment Management Group boosted its stake in Portland General Electric by 0.7% in the 4th quarter. Schroder Investment Management Group now owns 263,743 shares of the utilities provider’s stock valued at $12,021,000 after buying an additional 1,884 shares in the last quarter. Teachers Advisors LLC boosted its stake in Portland General Electric by 1.2% in the 4th quarter. Teachers Advisors LLC now owns 158,766 shares of the utilities provider’s stock valued at $7,237,000 after buying an additional 1,924 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Portland General Electric by 75.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,929 shares of the utilities provider’s stock valued at $225,000 after buying an additional 2,123 shares in the last quarter. 92.46% of the stock is owned by institutional investors.
POR has been the subject of several research analyst reports. Zacks Investment Research downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Bank of America dropped their price objective on Portland General Electric from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. JPMorgan Chase decreased their target price on Portland General Electric from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Gabelli reaffirmed a “hold” rating on shares of Portland General Electric in a research report on Tuesday, February 20th. Finally, UBS assumed coverage on Portland General Electric in a research report on Friday, February 2nd. They set a “sell” rating and a $40.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.44.
Shares of NYSE:POR opened at $39.78 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.15 and a current ratio of 1.35. Portland General Electric has a 1 year low of $39.02 and a 1 year high of $50.11. The company has a market cap of $3.55 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.64 and a beta of 0.20.
Portland General Electric (NYSE:POR) last announced its earnings results on Friday, April 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.07. The business had revenue of $493.00 million during the quarter, compared to analyst estimates of $523.28 million. Portland General Electric had a return on equity of 8.08% and a net margin of 9.03%. Portland General Electric’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. analysts anticipate that Portland General Electric will post 2.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 25th will be given a $0.3625 dividend. The ex-dividend date is Friday, June 22nd. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.34. This represents a $1.45 annualized dividend and a dividend yield of 3.65%. Portland General Electric’s dividend payout ratio (DPR) is 59.39%.
In other news, VP Bradley Young Jenkins sold 618 shares of Portland General Electric stock in a transaction dated 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 of the company’s stock, valued at approximately $36,261.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.
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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