Ferguson Wellman Capital Management Inc. purchased a new position in Portland General Electric Company (NYSE:POR – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 28,598 shares of the utilities provider’s stock, valued at approximately $1,482,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its holdings in shares of Portland General Electric by 1,342.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. BlackRock Inc. increased its stake in Portland General Electric by 7.4% in the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after acquiring an additional 1,292,219 shares during the last quarter. Norges Bank purchased a new stake in Portland General Electric during the fourth quarter valued at about $56,497,000. AQR Capital Management LLC raised its position in Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after purchasing an additional 1,054,450 shares in the last quarter. Finally, UBS Group AG lifted its stake in Portland General Electric by 514.3% during the fourth quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock worth $42,383,000 after purchasing an additional 739,404 shares during the last quarter.
Portland General Electric Stock Performance
NYSE POR opened at $49.60 on Friday. The company has a 50-day simple moving average of $51.04 and a two-hundred day simple moving average of $51.29. Portland General Electric Company has a 12-month low of $41.80 and a 12-month high of $54.62. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.13 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26.
Portland General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be paid a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s payout ratio is 96.92%.
Insider Buying and Selling
In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director owned 15,045 shares in the company, valued at approximately $779,782.35. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.
Analyst Ratings Changes
POR has been the subject of a number of research reports. LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price objective for the company in a report on Thursday, August 13th. BMO Capital Markets set a $52.00 price objective on Portland General Electric in a report on Tuesday, August 4th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings lowered Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.25.
Read Our Latest Stock Report on Portland General Electric
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.
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