Rhumbline Advisers increased its position in shares of Portland General Electric (NYSE:POR) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,669 shares of the utilities provider’s stock after buying an additional 2,144 shares during the period. Rhumbline Advisers owned about 0.16% of Portland General Electric worth $7,240,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Portland General Electric by 20.8% in the fourth quarter. BlackRock Inc. now owns 8,758,280 shares of the utilities provider’s stock valued at $401,568,000 after acquiring an additional 1,510,055 shares during the period. Norges Bank acquired a new position in Portland General Electric during the 4th quarter worth approximately $55,862,000. Teachers Advisors LLC lifted its position in Portland General Electric by 244.2% during the 3rd quarter. Teachers Advisors LLC now owns 800,131 shares of the utilities provider’s stock worth $36,494,000 after acquiring an additional 567,651 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Portland General Electric during the 4th quarter worth approximately $21,779,000. Finally, Wedge Capital Management L L P NC lifted its position in Portland General Electric by 34.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 950,288 shares of the utilities provider’s stock worth $43,571,000 after acquiring an additional 243,527 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
Several equities analysts recently commented on POR shares. Mizuho reissued 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 downgraded Portland General Electric from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.67.
Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, April 26th. The utilities provider reported $0.82 earnings per share for the quarter, beating 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%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities research analysts predict that Portland General Electric will post 2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 25th will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.77%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, June 24th. Portland General Electric’s payout ratio is presently 61.18%.
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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