Boston Advisors LLC lifted its stake in shares of Portland General Electric (NYSE:POR) by 41.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,790 shares of the utilities provider’s stock after buying an additional 17,155 shares during the period. Boston Advisors LLC owned approximately 0.07% of Portland General Electric worth $3,314,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of POR. Marshall Wace North America L.P. purchased a new stake in Portland General Electric during the 1st quarter valued at about $57,000. Copper Rock Capital Partners LLC grew its stake in shares of Portland General Electric by 1.9% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 319,029 shares of the utilities provider’s stock valued at $17,282,000 after buying an additional 5,970 shares during the period. Scout Investments Inc. grew its stake in shares of Portland General Electric by 16.3% in the 2nd quarter. Scout Investments Inc. now owns 657,412 shares of the utilities provider’s stock valued at $35,612,000 after buying an additional 92,060 shares during the period. Unigestion Holding SA grew its stake in shares of Portland General Electric by 104.4% in the 2nd quarter. Unigestion Holding SA now owns 93,988 shares of the utilities provider’s stock valued at $5,091,000 after buying an additional 48,009 shares during the period. Finally, Cornerstone Advisors Inc. purchased a new stake in shares of Portland General Electric in the 2nd quarter valued at approximately $122,000. Institutional investors and hedge funds own 93.49% of the company’s stock.
In other Portland General Electric news, VP William O. Nicholson sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $55.26, for a total transaction of $165,780.00. Following the transaction, the vice president now directly owns 1,653 shares of the company’s stock, valued at approximately $91,344.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.
Several research firms have recently weighed in on POR. Zacks Investment Research raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Mizuho upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $59.00 in a report on Monday, October 7th. ValuEngine lowered shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Sidoti started coverage on shares of Portland General Electric in a report on Friday, September 27th. They set a “neutral” rating and a $57.00 target price on the stock.
Shares of NYSE:POR traded up $0.31 during trading hours on Wednesday, reaching $55.35. The stock had a trading volume of 464,816 shares, compared to its average volume of 551,953. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.81. The firm’s 50 day moving average is $55.96 and its 200-day moving average is $55.46. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 5.12 and a beta of 0.11. Portland General Electric has a 1 year low of $43.73 and a 1 year high of $58.43.
Portland General Electric (NYSE:POR) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Portland General Electric had a net margin of 9.62% and a return on equity of 7.95%. The firm had revenue of $542.00 million for the quarter, compared to the consensus estimate of $532.94 million. During the same period last year, the firm posted $0.59 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that Portland General Electric will post 2.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 26th will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, December 24th. Portland General Electric’s payout ratio is currently 64.98%.
About Portland General Electric
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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