Whittier Trust Co. Boosts Stake in Portland General Electric Co. (POR)
Whittier Trust Co. boosted its position in Portland General Electric Co. (NYSE:POR) by 1.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 36,240 shares of the company’s stock after buying an additional 435 shares during the period. Whittier Trust Co.’s holdings in Portland General Electric were worth $1,599,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in Portland General Electric during the second quarter worth $105,000. State of Alaska Department of Revenue acquired a new position in Portland General Electric during the second quarter worth $235,000. BNP Paribas Arbitrage SA raised its position in Portland General Electric by 177.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,613 shares of the company’s stock worth $424,000 after buying an additional 6,145 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Portland General Electric by 15.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 10,870 shares of the company’s stock worth $429,000 after buying an additional 1,430 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new position in Portland General Electric during the first quarter worth $509,000. Institutional investors own 94.27% of the company’s stock.
Portland General Electric Co. (NYSE:POR) traded down 0.71% during mid-day trading on Friday, hitting $40.59. The stock had a trading volume of 558,412 shares. The company has a market cap of $3.61 billion, a PE ratio of 19.56 and a beta of 0.31. The firm’s 50-day moving average price is $42.58 and its 200 day moving average price is $41.88. Portland General Electric Co. has a one year low of $34.97 and a one year high of $45.21.
Portland General Electric (NYSE:POR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $428 million for the quarter, compared to analyst estimates of $439.08 million. Portland General Electric had a return on equity of 8.15% and a net margin of 9.79%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts anticipate that Portland General Electric Co. will post $2.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, September 26th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, September 22nd. Portland General Electric’s payout ratio is 61.84%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Portland General Electric from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Bank of America Corp. lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Tuesday, August 2nd. Finally, Williams Capital raised their target price on shares of Portland General Electric from $41.00 to $45.00 and gave the company a “hold” rating in a report on Friday, August 5th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target 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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