Alpha Windward LLC bought a new position in Portland General Electric (NYSE:POR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,280 shares of the utilities provider’s stock, valued at approximately $514,000.
A number of other hedge funds have also recently modified their holdings of POR. Gardiner Nancy B purchased a new position in Portland General Electric in the 3rd quarter worth $205,000. Hartford Investment Management Co. acquired a new stake in Portland General Electric during the 2nd quarter worth about $218,000. Covalis Capital LLP acquired a new stake in Portland General Electric during the 2nd quarter worth about $237,000. Signition LP acquired a new stake in Portland General Electric during the 2nd quarter worth about $285,000. Finally, Bank of Hawaii acquired a new stake in Portland General Electric during the 2nd quarter worth about $296,000. Institutional investors own 93.66% of the company’s stock.
Several brokerages have weighed in on POR. Zacks Investment Research downgraded Portland General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America raised Portland General Electric from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 30th. ValuEngine raised Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Wells Fargo & Co increased their price target on Portland General Electric from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, September 17th. Finally, Williams Capital upgraded Portland General Electric from a “sell” rating to a “hold” rating and raised their target price for the company from $41.00 to $44.00 in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.83.
Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 26th. The utilities provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $527.63 million. Portland General Electric had a net margin of 10.34% and a return on equity of 9.05%. Portland General Electric’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. Sell-side analysts expect that Portland General Electric will post 2.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 26th will be paid a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, December 24th. Portland General Electric’s dividend payout ratio is presently 63.32%.
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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, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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