Becker Capital Management Inc. lowered its stake in Portland General Electric (NYSE:POR) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 522,813 shares of the utilities provider’s stock after selling 5,697 shares during the quarter. Becker Capital Management Inc.’s holdings in Portland General Electric were worth $23,846,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia boosted its holdings in shares of Portland General Electric by 90,284.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,457,900 shares of the utilities provider’s stock valued at $60,477,000 after buying an additional 1,456,287 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Portland General Electric during the 3rd quarter valued at $11,527,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Portland General Electric by 686.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 275,610 shares of the utilities provider’s stock valued at $12,594,000 after buying an additional 240,567 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Portland General Electric by 45.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 584,957 shares of the utilities provider’s stock valued at $26,584,000 after buying an additional 183,913 shares in the last quarter. Finally, OLD Republic International Corp bought a new stake in shares of Portland General Electric during the 3rd quarter valued at $8,301,000. Institutional investors and hedge funds own 93.66% of the company’s stock.
A number of analysts have recently commented on POR shares. Wells Fargo & Co boosted their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Zacks Investment Research cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Williams Capital upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating and boosted their target price for the company from $41.00 to $44.00 in a report on Monday, July 30th. ValuEngine upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Bank of America upgraded shares of Portland General Electric from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.83.
Shares of Portland General Electric stock opened at $46.02 on Wednesday. The stock has a market capitalization of $4.00 billion, a P/E ratio of 20.10, a PEG ratio of 5.80 and a beta of 0.19. Portland General Electric has a 1 year low of $39.02 and a 1 year high of $50.11. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 26th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $527.63 million. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. Portland General Electric’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, analysts expect that Portland General Electric will post 2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 26th will be paid a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, December 24th. Portland General Electric’s payout ratio is 63.32%.
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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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