Piermont Capital Management Inc. purchased a new stake in Portland General Electric Company (NYSE:POR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,420 shares of the utilities provider’s stock, valued at approximately $2,349,000. Piermont Capital Management Inc. owned 0.06% of Portland General Electric as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its holdings in Portland General Electric by 1.2% in the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after buying an additional 34 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Portland General Electric by 52.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,352 shares during the period. Janney Montgomery Scott LLC purchased a new position in Portland General Electric in the second quarter valued at approximately $202,000. BlueMountain Capital Management LLC raised its holdings in Portland General Electric by 0.3% in the second quarter. BlueMountain Capital Management LLC now owns 5,489 shares of the utilities provider’s stock valued at $251,000 after buying an additional 17 shares during the period. Finally, Blair William & Co. IL raised its holdings in Portland General Electric by 19.8% in the first quarter. Blair William & Co. IL now owns 5,737 shares of the utilities provider’s stock valued at $259,000 after buying an additional 950 shares during the period. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Shares of Portland General Electric Company (NYSE:POR) traded down 0.83% during mid-day trading on Friday, reaching $45.58. 452,427 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $46.70 and a 200-day moving average price of $45.86. Portland General Electric Company has a 1-year low of $40.28 and a 1-year high of $48.22. The company has a market capitalization of $4.06 billion, a P/E ratio of 20.35 and a beta of 0.29.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.08). The firm had revenue of $449.00 million for the quarter, compared to analyst estimates of $465.70 million. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, equities research analysts forecast that Portland General Electric Company will post $2.22 earnings per share 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 issued a $0.34 dividend. The ex-dividend date is Friday, September 22nd. This represents a $1.36 annualized dividend and a yield of 2.98%. Portland General Electric’s dividend payout ratio (DPR) is currently 60.71%.

Several research firms recently commented on POR. KeyCorp restated a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. BidaskClub upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Williams Capital lowered shares of Portland General Electric from a “hold” rating to a “sell” rating and cut their price target for the company from $44.00 to $41.00 in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Portland General Electric presently has a consensus rating of “Hold” and a consensus target price of $42.00.

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Portland General Electric Profile

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.

Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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