MERIAN GLOBAL INVESTORS UK Ltd reduced its position in Portland General Electric (NYSE:POR) by 21.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,776 shares of the utilities provider’s stock after selling 29,892 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Portland General Electric were worth $5,742,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Portland General Electric by 177.5% during the fourth quarter. Citigroup Inc. now owns 69,941 shares of the utilities provider’s stock worth $3,207,000 after purchasing an additional 44,735 shares during the period. Bank of Montreal Can lifted its holdings in shares of Portland General Electric by 0.7% during the fourth quarter. Bank of Montreal Can now owns 179,890 shares of the utilities provider’s stock worth $8,248,000 after purchasing an additional 1,210 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Portland General Electric by 43.2% during the fourth quarter. Meeder Asset Management Inc. now owns 21,349 shares of the utilities provider’s stock worth $978,000 after purchasing an additional 6,439 shares during the period. Boston Partners lifted its holdings in shares of Portland General Electric by 1.8% during the fourth quarter. Boston Partners now owns 358,204 shares of the utilities provider’s stock worth $16,424,000 after purchasing an additional 6,359 shares during the period. Finally, Alpha Windward LLC acquired a new stake in shares of Portland General Electric during the first quarter worth $501,000. 96.47% of the stock is owned by institutional investors and hedge funds.
In other Portland General Electric news, VP Larry Neal Bekkedahl sold 2,700 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $49.70, for a total value of $134,190.00. Following the completion of the transaction, the vice president now owns 9,829 shares in the company, valued at $488,501.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Several brokerages recently weighed in on POR. Zacks Investment Research downgraded Portland General Electric from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Mizuho reaffirmed a “buy” rating and set a $50.00 price target on shares of Portland General Electric in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Portland General Electric presently has an average rating of “Hold” and a consensus target price of $47.67.
NYSE:POR opened at $53.36 on Friday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 4.46 and a beta of 0.26. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.82 and a quick ratio of 0.70. Portland General Electric has a 1 year low of $39.60 and a 1 year high of $53.77.
Portland General Electric (NYSE:POR) last released its quarterly earnings data on Friday, April 26th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The firm had revenue of $573.00 million during the quarter, compared to analysts’ expectations of $520.05 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. Portland General Electric’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Portland General Electric will post 2.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be given a $0.385 dividend. This is a boost from Portland General Electric’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, June 24th. This represents a $1.54 annualized dividend and a yield of 2.89%. Portland General Electric’s dividend payout ratio is presently 61.18%.
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, 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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