American Century Companies Inc. Has $1.09 Million Holdings in Portland General Electric Company (POR)
American Century Companies Inc. boosted its holdings in Portland General Electric Company (NYSE:POR) by 36.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,798 shares of the utilities provider’s stock after purchasing an additional 6,378 shares during the quarter. American Century Companies Inc.’s holdings in Portland General Electric were worth $1,087,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Portland General Electric by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 7,764,045 shares of the utilities provider’s stock worth $344,879,000 after purchasing an additional 256,914 shares in the last quarter. BlackRock Inc. raised its stake in Portland General Electric by 9,433.7% in the 1st quarter. BlackRock Inc. now owns 6,083,042 shares of the utilities provider’s stock worth $270,207,000 after purchasing an additional 6,019,236 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Portland General Electric by 5.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,662,302 shares of the utilities provider’s stock worth $207,099,000 after purchasing an additional 230,831 shares in the last quarter. Alliancebernstein L.P. raised its stake in Portland General Electric by 8.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,182,938 shares of the utilities provider’s stock worth $141,386,000 after purchasing an additional 247,232 shares in the last quarter. Finally, Boston Partners raised its stake in Portland General Electric by 2.9% in the 2nd quarter. Boston Partners now owns 3,178,857 shares of the utilities provider’s stock worth $145,241,000 after purchasing an additional 90,821 shares in the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.
Portland General Electric Company (NYSE POR) opened at 46.96 on Friday. Portland General Electric Company has a 12-month low of $40.28 and a 12-month high of $48.22. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 20.96 and a beta of 0.29. The firm has a 50-day moving average of $46.59 and a 200 day moving average of $45.84.
Portland General Electric (NYSE:POR) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The company had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $465.70 million. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts expect that Portland General Electric Company will post $2.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, September 22nd. Portland General Electric’s dividend payout ratio is currently 60.71%.
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Several equities analysts have commented on POR shares. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. BidaskClub raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Williams Capital lowered shares of Portland General Electric from a “hold” rating to a “sell” rating and decreased their target price for the company from $44.00 to $41.00 in a report on Monday, July 24th. Finally, KeyCorp reissued a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Portland General Electric presently has an average rating of “Hold” and an average price target of $42.00.
About Portland General Electric
Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.
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