Deutsche Bank AG cut its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,271 shares of the utilities provider's stock after selling 31,420 shares during the period. Deutsche Bank AG owned 0.12% of Portland General Electric worth $7,063,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of Portland General Electric by 18.8% during the first quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider's stock worth $6,728,000 after purchasing an additional 20,147 shares during the period. GSA Capital Partners LLP increased its stake in Portland General Electric by 683.5% in the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider's stock valued at $2,077,000 after buying an additional 37,758 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Portland General Electric in the fourth quarter valued at about $897,000. LSV Asset Management raised its stake in shares of Portland General Electric by 34.1% during the 4th quarter. LSV Asset Management now owns 799,147 shares of the utilities provider's stock worth $38,351,000 after purchasing an additional 203,400 shares in the last quarter. Finally, Norges Bank bought a new stake in Portland General Electric during the fourth quarter worth $56,497,000.
Insiders Place Their Bets
In related news, Director Michael A. Lewis sold 1,537 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $51.83, for a total transaction of $79,662.71. Following the completion of the transaction, the director owned 15,045 shares of the company's stock, valued at approximately $779,782.35. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have commented on POR. LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price objective on the stock in a report on Thursday, August 13th. BMO Capital Markets set a $52.00 price objective on Portland General Electric in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Portland General Electric from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Portland General Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $51.25.
Check Out Our Latest Report on POR
Portland General Electric Price Performance
POR stock opened at $49.74 on Tuesday. The company's 50-day moving average is $51.06 and its 200-day moving average is $51.32. The stock has a market capitalization of $5.85 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric Company has a 1 year low of $41.80 and a 1 year high of $54.62.
Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.01). Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The company had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. During the same quarter last year, the firm posted $0.66 EPS. Portland General Electric's revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that Portland General Electric Company will post 3.4 EPS for the current fiscal year.
Portland General Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be given a $0.5513 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. Portland General Electric's payout ratio is 96.92%.
About Portland General Electric
(
Free Report)
Portland General Electric NYSE: POR is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.
As one of Oregon's largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.
See Also
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