Exchange Traded Concepts LLC Buys New Stake in Portland General Electric Company $POR

Exchange Traded Concepts LLC purchased a new position in shares of Portland General Electric Company (NYSE:POR) during the third quarter, Holdings Channel.com reports. The fund purchased 18,858 shares of the utilities provider’s stock, valued at approximately $830,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Johnson Investment Counsel Inc. boosted its stake in shares of Portland General Electric by 0.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 38,261 shares of the utilities provider’s stock worth $1,555,000 after acquiring an additional 301 shares in the last quarter. Connable Office Inc. raised its holdings in Portland General Electric by 5.1% in the 2nd quarter. Connable Office Inc. now owns 6,564 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 318 shares during the period. Blue Trust Inc. raised its holdings in Portland General Electric by 12.0% in the 2nd quarter. Blue Trust Inc. now owns 3,281 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 352 shares during the period. California State Teachers Retirement System boosted its position in Portland General Electric by 0.4% during the second quarter. California State Teachers Retirement System now owns 101,342 shares of the utilities provider’s stock worth $4,118,000 after purchasing an additional 361 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its holdings in Portland General Electric by 80.6% in the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 370 shares during the period.

Portland General Electric Stock Performance

Shares of Portland General Electric stock opened at $47.59 on Monday. Portland General Electric Company has a one year low of $39.54 and a one year high of $51.14. The business has a 50-day simple moving average of $48.20 and a 200-day simple moving average of $44.18. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.95 and a current ratio of 1.08. The company has a market cap of $5.35 billion, a PE ratio of 17.31, a P/E/G ratio of 4.35 and a beta of 0.67.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Portland General Electric had a net margin of 8.63% and a return on equity of 8.32%. The business had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $975.64 million. During the same period in the previous year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 4.4%. Portland General Electric’s dividend payout ratio (DPR) is presently 76.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on POR shares. Weiss Ratings upgraded Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 22nd. Jefferies Financial Group boosted their target price on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. BTIG Research raised shares of Portland General Electric to a “strong-buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company initiated coverage on Portland General Electric in a research report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 price objective for the company. Finally, Mizuho set a $47.00 price target on shares of Portland General Electric in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.55.

About Portland General Electric

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.