Boston Partners Sells 249 Shares of Portland General Electric (NYSE:POR)

Boston Partners reduced its stake in shares of Portland General Electric (NYSE:POR – Get Rating) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,522 shares of the utilities provider’s stock after selling 249 shares during the period. Boston Partners’ holdings in Portland General Electric were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of POR. Nuance Investments LLC bought a new position in shares of Portland General Electric during the 2nd quarter valued at approximately $57,878,000. Wellington Management Group LLP grew its position in shares of Portland General Electric by 21.8% during the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock valued at $334,647,000 after acquiring an additional 1,087,996 shares during the period. State Street Corp grew its position in shares of Portland General Electric by 37.2% during the 2nd quarter. State Street Corp now owns 3,339,567 shares of the utilities provider’s stock valued at $162,473,000 after acquiring an additional 905,308 shares during the period. Principal Financial Group Inc. grew its position in shares of Portland General Electric by 50.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,815,445 shares of the utilities provider’s stock valued at $87,740,000 after acquiring an additional 611,446 shares during the period. Finally, Northern Trust Corp grew its position in shares of Portland General Electric by 41.7% during the 2nd quarter. Northern Trust Corp now owns 1,376,715 shares of the utilities provider’s stock valued at $66,536,000 after acquiring an additional 405,077 shares during the period. 97.03% of the stock is owned by institutional investors.

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Portland General Electric Stock Performance

NYSE POR opened at $47.07 on Wednesday. Portland General Electric has a 1 year low of $41.58 and a 1 year high of $57.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.76 and a quick ratio of 0.67. The stock has a market capitalization of $4.20 billion, a PE ratio of 16.99, a P/E/G ratio of 3.31 and a beta of 0.58. The company’s 50 day simple moving average is $48.27 and its two-hundred day simple moving average is $48.47.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, March 27th will be given a dividend of $0.4525 per share. The ex-dividend date is Friday, March 24th. This represents a $1.81 annualized dividend and a dividend yield of 3.85%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.45. Portland General Electric’s dividend payout ratio (DPR) is 65.34%.

Analysts Set New Price Targets

A number of analysts recently commented on POR shares. Credit Suisse Group upped their price target on shares of Portland General Electric from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Guggenheim dropped their price target on shares of Portland General Electric from $56.00 to $48.00 in a research note on Monday, October 24th. StockNews.com cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. TheStreet cut shares of Portland General Electric from a “b” rating to a “c+” rating in a research note on Wednesday, October 26th. Finally, Wells Fargo & Company upped their price target on shares of Portland General Electric to $53.00 in a research note on Wednesday, December 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.57.

About Portland General Electric

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Portland General Electric Co engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The firm also sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial and non-residential customers.

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