Portland General Electric (NYSE:POR) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 796,400 shares, an increase of 13.2% from the May 30th total of 703,600 shares. Based on an average daily trading volume, of 459,700 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the shares of the company are short sold.
Several institutional investors have recently added to or reduced their stakes in POR. Washington Trust Bank bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $30,000. GWM Advisors LLC bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $37,000. Manchester Capital Management LLC bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $54,000. Marshall Wace North America L.P. bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $57,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Portland General Electric during the 1st quarter valued at approximately $73,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
Shares of Portland General Electric stock traded up $0.30 during trading hours on Monday, reaching $54.82. 1,433,600 shares of the stock traded hands, compared to its average volume of 550,829. The business’s 50 day moving average is $54.47. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 4.56 and a beta of 0.24. Portland General Electric has a one year low of $42.97 and a one year high of $55.98. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 0.85.
Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.06. The business had revenue of $573.00 million during the quarter, compared to the consensus estimate of $520.05 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, sell-side analysts expect 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 Monday, July 15th. Shareholders of record on Tuesday, June 25th will be paid a dividend of $0.385 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.36. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, June 24th. Portland General Electric’s payout ratio is currently 64.98%.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Mizuho set a $103.00 price target on Celgene and gave the company a “buy” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, four have issued 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 a consensus target price of $47.67.
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.
Further Reading: What is a management fee?
Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.