Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in Portland General Electric (NYSE:POR) by 29.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,645 shares of the utilities provider’s stock after selling 10,070 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Portland General Electric were worth $1,124,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Portland General Electric by 2.0% in the 2nd quarter. BlackRock Inc. now owns 7,441,586 shares of the utilities provider’s stock worth $318,203,000 after purchasing an additional 145,006 shares during the period. OLD Republic International Corp bought a new position in Portland General Electric in the 3rd quarter worth approximately $8,301,000. State of Alaska Department of Revenue boosted its stake in Portland General Electric by 9.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 21,546 shares of the utilities provider’s stock worth $982,000 after purchasing an additional 1,780 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Portland General Electric by 17.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,163,417 shares of the utilities provider’s stock worth $49,748,000 after purchasing an additional 175,964 shares during the period. Finally, Gardiner Nancy B bought a new position in Portland General Electric in the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds own 95.44% of the company’s stock.
Several brokerages have recently issued reports on POR. ValuEngine raised Portland General Electric from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays upped their price objective on Portland General Electric from $42.00 to $43.00 and gave the stock a “sell” rating in a report on Monday. Zacks Investment Research cut Portland General Electric from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Bank of America raised Portland General Electric from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 30th. Finally, Wells Fargo & Co upped their price objective on Portland General Electric from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.94.
Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 26th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $527.63 million. Portland General Electric had a return on equity of 9.05% and a net margin of 10.34%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, equities analysts forecast that Portland General Electric will post 2.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 26th will be issued a dividend of $0.3625 per share. The ex-dividend date is Monday, December 24th. This represents a $1.45 annualized dividend and a dividend yield of 3.06%. Portland General Electric’s dividend payout ratio (DPR) 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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