Aperio Group LLC boosted its position in Portland General Electric (NYSE:POR) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,926 shares of the utilities provider’s stock after purchasing an additional 1,691 shares during the quarter. Aperio Group LLC owned approximately 0.06% of Portland General Electric worth $2,391,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of POR. Adviser Investments LLC bought a new position in Portland General Electric in the first quarter worth $107,000. Hartford Investment Management Co. bought a new position in Portland General Electric in the second quarter worth $218,000. Gideon Capital Advisors Inc. bought a new position in Portland General Electric in the first quarter worth $289,000. Ramsey Quantitative Systems raised its holdings in Portland General Electric by 58.1% in the second quarter. Ramsey Quantitative Systems now owns 8,034 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 2,954 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Portland General Electric in the first quarter worth $359,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
Shares of NYSE:POR opened at $47.25 on Tuesday. Portland General Electric has a 1-year low of $39.02 and a 1-year high of $50.11. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 0.86. The firm has a market cap of $4.08 billion, a PE ratio of 20.63, a P/E/G ratio of 6.23 and a beta of 0.23.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 27th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. Portland General Electric had a return on equity of 8.59% and a net margin of 9.74%. The firm had revenue of $449.00 million during the quarter, compared to the consensus estimate of $460.72 million. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue was up .0% on a year-over-year basis. sell-side analysts predict that Portland General Electric will post 2.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 25th will be issued a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, September 24th. This represents a $1.45 annualized dividend and a dividend yield of 3.07%. Portland General Electric’s payout ratio is presently 63.32%.
In other news, VP William David Robertson sold 4,380 shares of the firm’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 completion of the transaction, the vice president now directly owns 16,024 shares in the company, valued at $733,578.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.
POR has been the subject of a number of research reports. UBS Group increased their price objective 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 upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 17th. Mizuho reiterated a “buy” rating and issued a $45.50 price objective on shares of Portland General Electric in a report on Friday, July 20th. Williams Capital upgraded Portland General Electric from a “sell” rating to a “hold” rating and increased their price objective for the stock from $41.00 to $44.00 in a report on Monday, July 30th. Finally, ValuEngine upgraded Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.83.
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, 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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