Vaughan David Investments LLC IL decreased its stake in shares of Portland General Electric (NYSE:POR – Get Rating) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,197 shares of the utilities provider’s stock after selling 800 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Portland General Electric were worth $2,286,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its position in Portland General Electric by 27.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 645,469 shares of the utilities provider’s stock valued at $30,330,000 after purchasing an additional 139,964 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Portland General Electric during the 3rd quarter valued at $1,031,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Portland General Electric by 11.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 32,538 shares of the utilities provider’s stock valued at $1,722,000 after acquiring an additional 3,342 shares in the last quarter. Janus Henderson Group PLC bought a new position in Portland General Electric during the 3rd quarter valued at $425,000. Finally, Man Group plc lifted its stake in Portland General Electric by 212.8% during the 3rd quarter. Man Group plc now owns 26,006 shares of the utilities provider’s stock valued at $1,222,000 after acquiring an additional 17,691 shares in the last quarter. 91.92% of the stock is owned by institutional investors.
Several brokerages have weighed in on POR. Credit Suisse Group started coverage on Portland General Electric in a research note on Monday, April 25th. They set an “underperform” rating and a $55.00 price objective on the stock. StockNews.com started coverage on Portland General Electric in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays upgraded Portland General Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $53.00 to $57.00 in a research note on Tuesday, April 19th. Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Finally, Mizuho lowered their price objective on Portland General Electric from $61.00 to $56.00 in a research note on Friday, April 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.20.
POR stock traded up $0.04 during mid-day trading on Friday, reaching $46.99. 993,211 shares of the company traded hands, compared to its average volume of 901,652. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.94 and a quick ratio of 0.86. The company has a market capitalization of $4.19 billion, a P/E ratio of 20.25, a P/E/G ratio of 4.22 and a beta of 0.53. Portland General Electric has a 52-week low of $45.40 and a 52-week high of $57.03. The company has a fifty day moving average price of $52.65 and a 200-day moving average price of $51.68.
Portland General Electric (NYSE:POR – Get Rating) last posted its earnings results on Thursday, April 28th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.20). The company had revenue of $626.00 million for the quarter, compared to analysts’ expectations of $610.48 million. Portland General Electric had a net margin of 8.62% and a return on equity of 7.74%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, analysts forecast that Portland General Electric will post 2.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Monday, June 27th will be issued a dividend of $0.4525 per share. This represents a $1.81 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, June 24th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.43. Portland General Electric’s payout ratio is presently 74.14%.
Portland General Electric Company Profile (Get Rating)
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. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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