Anchor Capital Advisors LLC raised its stake in Portland General Electric (NYSE:POR) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,358 shares of the utilities provider’s stock after acquiring an additional 3,164 shares during the period. Anchor Capital Advisors LLC’s holdings in Portland General Electric were worth $2,248,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Washington Trust Bank acquired a new position in Portland General Electric in the first quarter worth $30,000. GWM Advisors LLC acquired a new position in Portland General Electric in the first quarter worth $37,000. CWM LLC boosted its stake in Portland General Electric by 5,680.0% in the fourth quarter. CWM LLC now owns 1,156 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 1,136 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Portland General Electric in the first quarter worth $54,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Portland General Electric in the first quarter worth $73,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.
Portland General Electric stock opened at $53.65 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 4.43 and a beta of 0.26. Portland General Electric has a 52 week low of $39.60 and a 52 week high of $53.88.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, April 26th. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $573.00 million for the quarter, compared to analyst estimates of $520.05 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Research analysts anticipate that Portland General Electric will post 2.45 earnings per share 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 paid a $0.385 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $1.54 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.36. Portland General Electric’s payout ratio is currently 61.18%.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Portland General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho lowered Portland General Electric from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $52.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.67.
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Portland General Electric 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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