Portland General Electric (NYSE:POR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,960,000 shares, an increase of 18.1% from the August 15th total of 1,660,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 891,100 shares, the short-interest ratio is presently 2.2 days.
Shares of POR traded up $1.00 during trading hours on Wednesday, hitting $34.69. 1,753,992 shares of the stock were exchanged, compared to its average volume of 848,125. Portland General Electric has a fifty-two week low of $31.96 and a fifty-two week high of $63.08. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.96 and a quick ratio of 0.82. The business has a 50-day moving average of $40.16 and a 200-day moving average of $44.70. The firm has a market capitalization of $3.11 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 4.70 and a beta of 0.21.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. Portland General Electric had a net margin of 11.07% and a return on equity of 9.04%. The company had revenue of $469.00 million during the quarter, compared to analysts’ expectations of $455.83 million. During the same period in the prior year, the company posted $0.28 earnings per share. Portland General Electric’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts forecast that Portland General Electric will post 1.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a dividend of $0.4075 per share. The ex-dividend date is Thursday, September 24th. This is a boost from Portland General Electric’s previous quarterly dividend of $0.39. This represents a $1.63 annualized dividend and a dividend yield of 4.70%. Portland General Electric’s dividend payout ratio is 64.44%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in Portland General Electric in the first quarter worth $57,000. New York State Common Retirement Fund grew its holdings in Portland General Electric by 13.8% in the first quarter. New York State Common Retirement Fund now owns 115,389 shares of the utilities provider’s stock worth $5,532,000 after purchasing an additional 14,036 shares during the period. Rhumbline Advisers grew its holdings in Portland General Electric by 8.5% in the first quarter. Rhumbline Advisers now owns 171,424 shares of the utilities provider’s stock worth $8,218,000 after purchasing an additional 13,439 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portland General Electric by 28.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,503 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 1,654 shares during the period. Finally, Mackay Shields LLC grew its holdings in Portland General Electric by 73.9% in the first quarter. Mackay Shields LLC now owns 85,900 shares of the utilities provider’s stock worth $4,118,000 after purchasing an additional 36,500 shares during the period.
Several equities analysts recently commented on POR shares. Zacks Investment Research downgraded shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Wolfe Research raised shares of Portland General Electric from an “underperform” rating to a “peer perform” rating and set a $43.00 price objective for the company in a research note on Friday, July 17th. Bank of America raised shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday. Sidoti dropped their price objective on shares of Portland General Electric from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, August 25th. Finally, Mizuho dropped their price objective on shares of Portland General Electric from $48.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Portland General Electric has an average rating of “Hold” and a consensus target price of $43.40.
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, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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