Portland General Electric Co. (POR) Position Decreased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. cut its stake in shares of Portland General Electric Co. (NYSE:POR) by 12.6% during the second quarter, Holdings Channel reports. The fund owned 102,541 shares of the company’s stock after selling 14,837 shares during the period. UBS Asset Management Americas Inc. owned about 0.12% of Portland General Electric worth $4,524,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in POR. Silvercrest Asset Management Group LLC boosted its stake in Portland General Electric by 1.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,332,985 shares of the company’s stock valued at $52,639,000 after buying an additional 23,865 shares during the last quarter. Swiss National Bank boosted its position in shares of Portland General Electric by 0.5% in the second quarter. Swiss National Bank now owns 147,300 shares of the company’s stock worth $6,499,000 after buying an additional 800 shares in the last quarter. State Street Corp boosted its position in shares of Portland General Electric by 4.2% in the first quarter. State Street Corp now owns 1,793,466 shares of the company’s stock worth $70,824,000 after buying an additional 71,660 shares in the last quarter. Boston Partners boosted its position in shares of Portland General Electric by 10.3% in the second quarter. Boston Partners now owns 3,080,497 shares of the company’s stock worth $135,912,000 after buying an additional 288,848 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Portland General Electric during the second quarter worth $512,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Portland General Electric Co. (NYSE:POR) traded down 0.70% during midday trading on Friday, hitting $42.37. The stock had a trading volume of 185,873 shares. The company has a market cap of $3.77 billion, a PE ratio of 20.42 and a beta of 0.30. The company’s 50 day moving average is $42.83 and its 200 day moving average is $41.80. Portland General Electric Co. has a 52-week low of $34.97 and a 52-week high of $45.21.
Portland General Electric (NYSE:POR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. The business earned $428 million during the quarter, compared to the consensus estimate of $439.08 million. Portland General Electric had a return on equity of 8.15% and a net margin of 9.79%. The business’s revenue was down 4.9% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. On average, analysts anticipate that Portland General Electric Co. will post $2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 22nd. Portland General Electric’s dividend payout ratio (DPR) is 61.84%.
POR has been the topic of a number of research reports. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Goldman Sachs Group Inc. cut Portland General Electric from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Monday, June 6th. Williams Capital raised their price objective on Portland General Electric from $41.00 to $45.00 and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Bank of America Corp. cut Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Portland General Electric presently has an average rating of “Hold” and a consensus target price of $41.21.
Portland General Electric Company Profile
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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