Jennison Associates LLC lowered its position in Portland General Electric Company (NYSE:POR) by 25.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,619,055 shares of the company’s stock after selling 549,961 shares during the period. Jennison Associates LLC owned approximately 1.82% of Portland General Electric worth $73,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in POR. BlackRock Inc. lifted its stake in Portland General Electric by 18.0% in the second quarter. BlackRock Inc. now owns 7,180,796 shares of the company’s stock worth $328,091,000 after purchasing an additional 1,097,754 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in Portland General Electric in the third quarter worth about $15,177,000. APG Asset Management N.V. bought a new stake in Portland General Electric in the third quarter worth about $13,286,000. Vanguard Group Inc. lifted its stake in Portland General Electric by 2.6% in the second quarter. Vanguard Group Inc. now owns 7,964,752 shares of the company’s stock worth $363,909,000 after purchasing an additional 200,707 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new stake in Portland General Electric in the second quarter worth about $8,779,000. 91.89% of the stock is owned by institutional investors and hedge funds.
Shares of Portland General Electric Company (NYSE POR) traded down C$0.26 during mid-day trading on Monday, reaching C$48.28. 475,600 shares of the company traded hands, compared to its average volume of 591,366. The stock has a market capitalization of $4,301.38, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 5.63 and a beta of 0.29. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. Portland General Electric Company has a 12 month low of C$40.71 and a 12 month high of C$48.69.
Portland General Electric (NYSE:POR) last issued its quarterly earnings data on Friday, October 27th. The company reported C$0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.38 by C$0.06. The company had revenue of C$515.00 million for the quarter, compared to analyst estimates of C$497.85 million. Portland General Electric had a net margin of 10.21% and a return on equity of 8.65%. Portland General Electric’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. analysts anticipate that Portland General Electric Company will post 2.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, December 26th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, December 22nd. Portland General Electric’s payout ratio is 59.13%.
POR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. BidaskClub raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. J P Morgan Chase & Co lifted their price target on shares of Portland General Electric from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, Bank of America Corporation assumed coverage on shares of Portland General Electric in a research note on Tuesday, October 24th. They set a “neutral” rating and a $45.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Portland General Electric has a consensus rating of “Hold” and an average target price of C$46.00.
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Portland General Electric Profile
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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