Duality Advisers LP bought a new stake in shares of Portland General Electric (NYSE:POR – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,069 shares of the utilities provider’s stock, valued at approximately $346,000.
Several other hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in Portland General Electric by 0.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 216,189 shares of the utilities provider’s stock valued at $10,593,000 after purchasing an additional 1,605 shares during the last quarter. Brinker Capital Investments LLC lifted its holdings in shares of Portland General Electric by 5.5% in the 4th quarter. Brinker Capital Investments LLC now owns 44,232 shares of the utilities provider’s stock worth $2,167,000 after acquiring an additional 2,304 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Portland General Electric by 0.7% in the 4th quarter. Retirement Systems of Alabama now owns 117,664 shares of the utilities provider’s stock worth $5,766,000 after acquiring an additional 828 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Portland General Electric during the 4th quarter valued at about $1,116,000. Finally, SG Americas Securities LLC boosted its position in shares of Portland General Electric by 90.0% during the 4th quarter. SG Americas Securities LLC now owns 26,269 shares of the utilities provider’s stock valued at $1,287,000 after acquiring an additional 12,445 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on POR. StockNews.com began coverage on Portland General Electric in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group raised their price target on Portland General Electric from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. Bank of America upgraded Portland General Electric from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $52.00 in a research report on Tuesday, March 14th. Finally, Wells Fargo & Company lifted their target price on Portland General Electric from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.00.
Portland General Electric Price Performance
Portland General Electric (NYSE:POR – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Portland General Electric had a net margin of 8.88% and a return on equity of 9.06%. The firm had revenue of $687.00 million for the quarter, compared to the consensus estimate of $624.60 million. Research analysts anticipate that Portland General Electric will post 2.7 earnings per share for the current fiscal year.
Portland General Electric Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, June 26th will be given a dividend of $0.475 per share. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 3.70%. The ex-dividend date is Friday, June 23rd. Portland General Electric’s dividend payout ratio is currently 66.30%.
Insider Buying and Selling at Portland General Electric
In other news, VP Brett Michael Sims sold 2,050 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $47.00, for a total transaction of $96,350.00. Following the sale, the vice president now owns 10,978 shares in the company, valued at $515,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.
About Portland General Electric
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.
Read More
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