Massachusetts Financial Services Co. MA Acquires 564,379 Shares of Portland General Electric Company $POR

Massachusetts Financial Services Co. MA boosted its holdings in shares of Portland General Electric Company (NYSE:POR) by 23.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,985,941 shares of the utilities provider’s stock after purchasing an additional 564,379 shares during the period. Massachusetts Financial Services Co. MA owned about 2.73% of Portland General Electric worth $131,381,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Portland General Electric by 7.4% during the 1st quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock worth $7,222,000 after buying an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Portland General Electric by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock valued at $2,763,000 after acquiring an additional 2,717 shares during the period. Millennium Management LLC raised its stake in Portland General Electric by 465.5% during the first quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider’s stock worth $6,741,000 after acquiring an additional 124,410 shares in the last quarter. United Services Automobile Association bought a new position in shares of Portland General Electric during the first quarter valued at $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Portland General Electric by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider’s stock valued at $10,420,000 after acquiring an additional 13,799 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on POR shares. UBS Group dropped their target price on shares of Portland General Electric from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. BTIG Research reaffirmed a “buy” rating on shares of Portland General Electric in a research note on Tuesday, December 30th. Mizuho set a $47.00 target price on shares of Portland General Electric in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Portland General Electric in a report on Monday, December 29th. Finally, Barclays raised their price target on Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.92.

Portland General Electric Price Performance

POR opened at $49.72 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95. The stock has a market capitalization of $5.59 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 4.35 and a beta of 0.67. The company’s 50 day simple moving average is $48.91 and its 200-day simple moving average is $45.16. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $975.64 million. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts anticipate that Portland General Electric Company will post 3.21 earnings per share for the current fiscal year.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.