Copper Rock Capital Partners LLC lowered its position in Portland General Electric (NYSE:POR) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,736 shares of the utilities provider’s stock after selling 46,293 shares during the quarter. Copper Rock Capital Partners LLC owned approximately 0.31% of Portland General Electric worth $15,475,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hexavest Inc. purchased a new position in Portland General Electric in the third quarter valued at about $254,000. Cerebellum GP LLC grew its stake in Portland General Electric by 25.0% in the third quarter. Cerebellum GP LLC now owns 8,114 shares of the utilities provider’s stock valued at $457,000 after purchasing an additional 1,625 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in Portland General Electric by 8.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 353,623 shares of the utilities provider’s stock valued at $19,156,000 after purchasing an additional 28,567 shares in the last quarter. NewSquare Capital LLC grew its stake in Portland General Electric by 72.0% in the second quarter. NewSquare Capital LLC now owns 9,219 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 3,859 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new stake in shares of Portland General Electric in the second quarter worth about $280,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.
In other Portland General Electric news, VP Kristin Anne Stathis sold 4,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.87, for a total value of $231,480.00. Following the completion of the sale, the vice president now owns 8,359 shares of the company’s stock, valued at $483,735.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by insiders.
Shares of NYSE:POR traded down $0.14 on Thursday, reaching $56.37. The company had a trading volume of 312,098 shares, compared to its average volume of 624,523. Portland General Electric has a twelve month low of $43.73 and a twelve month high of $58.43. The stock has a 50-day moving average price of $56.39 and a 200 day moving average price of $54.31. The stock has a market capitalization of $5.08 billion, a P/E ratio of 23.78, a P/E/G ratio of 5.14 and a beta of 0.15. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 0.99.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.23). Portland General Electric had a return on equity of 7.93% and a net margin of 9.61%. The company had revenue of $460.00 million during the quarter, compared to analyst estimates of $466.66 million. During the same period in the prior year, the firm earned $0.51 EPS. Portland General Electric’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Portland General Electric will post 2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be given a $0.385 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.73%. Portland General Electric’s dividend payout ratio is currently 64.98%.
POR has been the subject of a number of analyst reports. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Mizuho raised Portland General Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $59.00 in a research report on Monday. ValuEngine cut Portland General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Sidoti initiated coverage on Portland General Electric in a research report on Friday, September 27th. They issued a “neutral” rating and a $57.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $54.00.
Portland General Electric Company 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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