BlackRock Inc. raised its stake in Portland General Electric (NYSE:POR) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,441,586 shares of the utilities provider’s stock after acquiring an additional 145,006 shares during the period. BlackRock Inc. owned approximately 0.08% of Portland General Electric worth $318,203,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in POR. Adviser Investments LLC acquired a new position in Portland General Electric in the 1st quarter valued at $107,000. Hartford Investment Management Co. acquired a new position in shares of Portland General Electric during the 2nd quarter worth $218,000. Signition LP acquired a new position in shares of Portland General Electric during the 2nd quarter worth $285,000. Gideon Capital Advisors Inc. acquired a new position in shares of Portland General Electric during the 1st quarter worth $289,000. Finally, Bank of Hawaii acquired a new position in shares of Portland General Electric during the 2nd quarter worth $296,000. 92.93% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. Williams Capital raised Portland General Electric from a “sell” rating to a “hold” rating and boosted their price target for the stock from $41.00 to $44.00 in a report on Monday, July 30th. Mizuho reissued a “buy” rating and set a $45.50 price target on shares of Portland General Electric in a report on Friday, July 20th. UBS Group boosted their price target on Portland General Electric from $40.00 to $42.00 and gave the stock a “$45.10” rating in a report on Thursday, July 19th. Zacks Investment Research raised Portland General Electric from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 17th. Finally, Barclays assumed coverage on Portland General Electric in a report on Tuesday, July 10th. They set an “underweight” rating and a $42.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Portland General Electric has an average rating of “Hold” and an average target price of $42.83.
In related news, VP William David Robertson sold 4,380 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $45.78, for a total transaction of $200,516.40. Following the sale, the vice president now owns 16,024 shares in the company, valued at approximately $733,578.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.
Portland General Electric stock opened at $46.87 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 0.86. Portland General Electric has a 52 week low of $39.02 and a 52 week high of $50.11. The firm has a market cap of $4.17 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 6.38 and a beta of 0.16.
Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 27th. The utilities provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $460.72 million. Portland General Electric had a return on equity of 8.59% and a net margin of 9.74%. Portland General Electric’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. research analysts forecast that Portland General Electric will post 2.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 25th will be given a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, September 24th. This represents a $1.45 dividend on an annualized basis and a yield of 3.09%. Portland General Electric’s dividend payout ratio is currently 63.32%.
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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