Fmr LLC increased its stake in Portland General Electric (NYSE:POR) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,242,895 shares of the utilities provider’s stock after acquiring an additional 175,106 shares during the period. Fmr LLC owned approximately 2.51% of Portland General Electric worth $95,906,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hartford Investment Management Co. acquired a new stake in shares of Portland General Electric in the second quarter worth approximately $218,000. Covalis Capital LLP acquired a new stake in shares of Portland General Electric in the second quarter worth approximately $237,000. Signition LP acquired a new stake in shares of Portland General Electric in the second quarter worth approximately $285,000. Bank of Hawaii acquired a new stake in shares of Portland General Electric in the second quarter worth approximately $296,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Portland General Electric in the second quarter worth approximately $306,000. 93.66% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Mizuho reissued a “buy” rating and issued a $45.50 target price on shares of Portland General Electric in a research report on Friday, July 20th. Zacks Investment Research cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS Group raised their target price on shares of Portland General Electric from $40.00 to $42.00 and gave the stock a “$45.10” rating in a research report on Thursday, July 19th. Bank of America raised shares of Portland General Electric from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 30th. Finally, Williams Capital raised shares of Portland General Electric from a “sell” rating to a “hold” rating and raised their target price for the stock from $41.00 to $44.00 in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.83.
Shares of POR stock opened at $46.68 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 5.99 and a beta of 0.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.90. Portland General Electric has a fifty-two week low of $39.02 and a fifty-two week high of $50.11.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, October 26th. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. The firm 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 period in the previous year, the company posted $0.44 earnings per share. As a group, equities research analysts anticipate that Portland General Electric will post 2.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 26th will be given a dividend of $0.3625 per share. The ex-dividend date is Monday, December 24th. This represents a $1.45 dividend on an annualized basis and a yield of 3.11%. Portland General Electric’s dividend payout ratio (DPR) is 63.32%.
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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