Raymond James & Associates raised its stake in Portland General Electric (NYSE:POR) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,821 shares of the utilities provider’s stock after buying an additional 7,801 shares during the quarter. Raymond James & Associates owned approximately 0.18% of Portland General Electric worth $5,709,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of POR. Private Advisor Group LLC purchased a new position in shares of Portland General Electric in the 2nd quarter valued at approximately $85,000. Ensign Peak Advisors Inc acquired a new stake in shares of Portland General Electric during the 2nd quarter valued at $1,127,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Portland General Electric by 18.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,860 shares of the utilities provider’s stock valued at $370,000 after acquiring an additional 1,357 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Portland General Electric by 18.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,227 shares of the utilities provider’s stock valued at $302,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Portland General Electric by 7,592.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,000 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 987 shares during the last quarter.
A number of equities research analysts have recently commented on the company. Barclays upgraded Portland General Electric from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $45.00 to $38.00 in a research report on Monday, September 21st. Guggenheim upgraded Portland General Electric from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 22nd. Siebert Williams Shank upgraded Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 26th. Mizuho lowered Portland General Electric from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday. Finally, TheStreet lowered Portland General Electric from a “b-” rating to a “c+” rating in a report on Monday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.67.
[embedded content] Shares of NYSE POR opened at $41.92 on Friday. The company’s fifty day moving average is $39.61 and its 200-day moving average is $41.18. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 5.07 and a beta of 0.26. Portland General Electric has a twelve month low of $31.96 and a twelve month high of $63.08. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.06.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Wednesday, November 4th. The utilities provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.14. The company had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $491.74 million. Portland General Electric had a net margin of 11.07% and a return on equity of 9.04%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. On average, research analysts anticipate that Portland General Electric will post 1.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, December 28th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.89%. Portland General Electric’s dividend payout ratio is 68.20%.
Portland General Electric Company Profile
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, 2019, it owned an electric transmission system consisting of 1,264 circuit miles, including 287 circuit miles of 500 kilovolt line, 423 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line.
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