Portland General Electric Company $POR Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Portland General Electric Company (NYSE:POR) by 21.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 530,703 shares of the utilities provider’s stock after selling 141,675 shares during the period. ProShare Advisors LLC’s holdings in Portland General Electric were worth $23,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vise Technologies Inc. lifted its holdings in shares of Portland General Electric by 10.1% during the third quarter. Vise Technologies Inc. now owns 28,171 shares of the utilities provider’s stock worth $1,257,000 after purchasing an additional 2,590 shares during the period. State of Wyoming grew its stake in shares of Portland General Electric by 20.0% in the third quarter. State of Wyoming now owns 1,432 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 239 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Portland General Electric by 68.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 77,000 shares of the utilities provider’s stock worth $3,437,000 after purchasing an additional 31,300 shares during the last quarter. Moody Aldrich Partners LLC increased its holdings in Portland General Electric by 14.4% in the third quarter. Moody Aldrich Partners LLC now owns 135,317 shares of the utilities provider’s stock valued at $6,039,000 after purchasing an additional 16,988 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Portland General Electric in the third quarter valued at $262,000.

Portland General Electric Stock Up 2.5%

Shares of NYSE POR opened at $45.55 on Tuesday. The company’s 50 day moving average price is $46.40 and its 200-day moving average price is $49.98. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric Company has a 52-week low of $43.26 and a 52-week high of $54.62. The company has a market capitalization of $5.36 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%. The firm had revenue of $971.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that Portland General Electric Company will post 3.22 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 22nd will be issued a $0.5513 dividend. The ex-dividend date is Tuesday, December 22nd. This represents a $2.21 annualized dividend and a yield of 4.8%. Portland General Electric’s payout ratio is presently 94.42%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on POR shares. Weiss Ratings lowered Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target on the stock in a research report on Thursday, August 13th. UBS Group decreased their price target on Portland General Electric from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. BTIG Research set a $57.00 price objective on Portland General Electric in a research report on Tuesday, October 20th. Finally, KeyCorp restated a “sector weight” rating on shares of Portland General Electric in a research report on Thursday, September 24th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.56.

Portland General Electric Profile

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.