Portland General Electric Company $POR Position Boosted by Leeward Investments LLC MA

Key Points

• Leeward Investments increased its Portland General Electric stake by 38.2% in the third quarter, acquiring 87,371 additional shares and bringing its holdings to 316,157 shares valued at approximately $14.1 million.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $50.50. Recent ratings included a lowered $53 target from JPMorgan and a $57 target from BTIG Research.
• Portland General Electric reported quarterly EPS of $0.64, slightly below expectations, while announcing a quarterly dividend of $0.5513. The annualized dividend of $2.21 represents a 4.9% yield.

Leeward Investments LLC MA increased its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 316,157 shares of the utilities provider's stock after buying an additional 87,371 shares during the period. Leeward Investments LLC MA owned 0.27% of Portland General Electric worth $14,110,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. Mather Group LLC. increased its holdings in Portland General Electric by 83.9% in the third quarter. Mather Group LLC. now owns 695 shares of the utilities provider's stock valued at $31,000 after buying an additional 317 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Portland General Electric in the third quarter worth about $32,000. State of Wyoming raised its position in shares of Portland General Electric by 32.9% in the second quarter. State of Wyoming now owns 1,193 shares of the utilities provider's stock worth $62,000 after acquiring an additional 295 shares during the period. Versant Capital Management Inc raised its position in shares of Portland General Electric by 426.4% in the second quarter. Versant Capital Management Inc now owns 2,369 shares of the utilities provider's stock worth $123,000 after acquiring an additional 1,919 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Portland General Electric by 86.0% during the 2nd quarter. IFP Advisors Inc now owns 2,545 shares of the utilities provider's stock worth $132,000 after acquiring an additional 1,177 shares in the last quarter.

Wall Street Analyst Weigh In

POR has been the topic of a number of analyst reports. KeyCorp restated a "sector weight" rating on shares of Portland General Electric in a research report on Thursday, September 24th. JPMorgan Chase & Co. cut their price target on Portland General Electric from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Wednesday, September 9th. BTIG Research set a $57.00 price target on Portland General Electric in a report on Tuesday, October 20th. Weiss Ratings cut Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 27th. Finally, LADENBURG THALM/SH SH upgraded Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price target on the stock in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $50.50.

Portland General Electric Price Performance

Portland General Electric stock opened at $44.55 on Monday. The company's fifty day moving average price is $47.06 and its 200 day moving average price is $49.48. Portland General Electric Company has a 1 year low of $43.26 and a 1 year high of $54.62. The stock has a market capitalization of $5.24 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.69 and a beta of 0.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98.

Portland General Electric (NYSE:POR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $814.00 million during the quarter, compared to analysts' expectations of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%. Portland General Electric's revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts anticipate that Portland General Electric Company will post 3.32 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 22nd will be given a $0.5513 dividend. The ex-dividend date is Tuesday, December 22nd. This represents a $2.21 annualized dividend and a dividend yield of 4.9%. Portland General Electric's dividend payout ratio (DPR) is 96.92%.

Portland General Electric Company Profile

Portland General Electric Company NYSE: POR is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.

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