Nisa Investment Advisors LLC lifted its stake in shares of Portland General Electric (NYSE:POR) by 51.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,700 shares of the utilities provider’s stock after buying an additional 4,300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Portland General Electric were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Simplex Trading LLC raised its stake in shares of Portland General Electric by 38,764.3% during the 4th quarter. Simplex Trading LLC now owns 5,413 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 5,427 shares during the period. Citigroup Inc. raised its stake in shares of Portland General Electric by 177.5% during the 4th quarter. Citigroup Inc. now owns 69,941 shares of the utilities provider’s stock worth $3,207,000 after purchasing an additional 44,735 shares during the period. Bank of Montreal Can raised its stake in Portland General Electric by 0.7% in the 4th quarter. Bank of Montreal Can now owns 179,890 shares of the utilities provider’s stock valued at $8,248,000 after acquiring an additional 1,210 shares during the period. Meeder Asset Management Inc. raised its stake in Portland General Electric by 43.2% in the 4th quarter. Meeder Asset Management Inc. now owns 21,349 shares of the utilities provider’s stock valued at $978,000 after acquiring an additional 6,439 shares during the period. Finally, Boston Partners raised its stake in Portland General Electric by 1.8% in the 4th quarter. Boston Partners now owns 358,204 shares of the utilities provider’s stock valued at $16,424,000 after acquiring an additional 6,359 shares during the period. 96.47% of the stock is owned by institutional investors.
Shares of NYSE POR traded up $0.23 during midday trading on Wednesday, hitting $53.26. 333,903 shares of the company’s stock were exchanged, compared to its average volume of 566,062. Portland General Electric has a 12-month low of $39.60 and a 12-month high of $53.78. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.46 and a beta of 0.26.
Portland General Electric (NYSE:POR) last issued its earnings results on Friday, April 26th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The business had revenue of $573.00 million during the quarter, compared to analyst estimates of $520.05 million. Portland General Electric had a return on equity of 8.84% and a net margin of 10.67%. Portland General Electric’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, analysts predict that Portland General Electric will post 2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be paid a $0.385 dividend. The ex-dividend date is Monday, June 24th. This represents a $1.54 annualized dividend and a yield of 2.89%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.36. Portland General Electric’s dividend payout ratio is currently 61.18%.
In other Portland General Electric news, VP Larry Neal Bekkedahl sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $49.70, for a total value of $134,190.00. Following the completion of the sale, the vice president now owns 9,829 shares of the company’s stock, valued at $488,501.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.
POR has been the topic of several analyst reports. Mizuho reiterated a “buy” rating and set a $50.00 price target on shares of Portland General Electric in a research report on Thursday, February 14th. Zacks Investment Research cut Portland General Electric from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.67.
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.
Recommended Story: Determine Your Level of Risk Tolerance
Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.