Meeder Asset Management Inc. grew its stake in shares of Portland General Electric (NYSE:POR) by 100.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,815 shares of the utilities provider’s stock after buying an additional 21,466 shares during the quarter. Meeder Asset Management Inc.’s holdings in Portland General Electric were worth $2,218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alpha Windward LLC acquired a new position in Portland General Electric in the first quarter valued at $501,000. Quantitative Systematic Strategies LLC acquired a new position in Portland General Electric in the first quarter valued at $319,000. Sciencast Management LP acquired a new position in Portland General Electric in the first quarter valued at $425,000. Scout Investments Inc. lifted its holdings in Portland General Electric by 40.4% in the first quarter. Scout Investments Inc. now owns 565,352 shares of the utilities provider’s stock valued at $29,308,000 after buying an additional 162,770 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Portland General Electric in the first quarter valued at $992,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE POR opened at $50.62 on Wednesday. Portland General Electric has a 1-year low of $39.60 and a 1-year high of $52.60. The stock has a market cap of $4.60 billion, a PE ratio of 21.74, a P/E/G ratio of 5.10 and a beta of 0.26. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 0.87.
Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, February 15th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Portland General Electric had a net margin of 10.65% and a return on equity of 8.56%. The firm had revenue of $524.00 million for the quarter, compared to analyst estimates of $520.95 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities analysts anticipate that Portland General Electric will post 2.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 25th were issued a dividend of $0.3625 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $1.45 annualized dividend and a dividend yield of 2.86%. Portland General Electric’s dividend payout ratio is currently 61.18%.
POR has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, January 15th. Mizuho restated a “buy” rating and issued a $50.00 target price on shares of Portland General Electric in a report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.67.
In other news, VP Larry Neal Bekkedahl sold 2,700 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $49.70, for a total transaction of $134,190.00. Following the transaction, the vice president now owns 9,829 shares in the company, valued at $488,501.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
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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