First Republic Investment Management Inc. lessened its stake in Portland General Electric (NYSE:POR) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 471,543 shares of the utilities provider’s stock after selling 18,962 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.53% of Portland General Electric worth $21,507,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Portland General Electric by 206.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,146 shares of the utilities provider’s stock worth $100,000 after buying an additional 1,446 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Portland General Electric by 185.7% in the third quarter. PNC Financial Services Group Inc. now owns 3,026 shares of the utilities provider’s stock worth $139,000 after buying an additional 1,967 shares in the last quarter. Gardiner Nancy B purchased a new position in shares of Portland General Electric in the third quarter worth $205,000. Covalis Capital LLP purchased a new position in shares of Portland General Electric in the second quarter worth $237,000. Finally, Signition LP purchased a new position in shares of Portland General Electric in the second quarter worth $285,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on POR. Barclays boosted their target price on shares of Portland General Electric from $42.00 to $43.00 and gave the stock a “sell” rating in a report on Monday, November 19th. ValuEngine raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Friday, October 12th. Wells Fargo & Co boosted their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Finally, Bank of America raised 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, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.94.
Portland General Electric stock opened at $49.84 on Friday. The firm has a market cap of $4.41 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 6.43 and a beta of 0.19. 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 has a 52-week low of $39.02 and a 52-week high of $50.13.
Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 26th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, equities research analysts predict 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. Investors of record on Wednesday, December 26th will be paid a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, December 24th. Portland General Electric’s payout ratio is 63.32%.
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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, 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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