Portland General Electric (POR) Position Raised by Meeder Asset Management Inc.
Meeder Asset Management Inc. boosted its stake in Portland General Electric (NYSE:POR) by 17.0% in the third quarter, Holdings Channel reports. The firm owned 14,910 shares of the utilities provider’s stock after acquiring an additional 2,161 shares during the period. Meeder Asset Management Inc.’s holdings in Portland General Electric were worth $680,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. Commonwealth Bank of Australia increased its holdings in Portland General Electric by 90,284.4% in the second quarter. Commonwealth Bank of Australia now owns 1,457,900 shares of the utilities provider’s stock valued at $60,477,000 after purchasing an additional 1,456,287 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Portland General Electric in the third quarter worth about $11,527,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Portland General Electric by 686.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 275,610 shares of the utilities provider’s stock worth $12,594,000 after acquiring an additional 240,567 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Portland General Electric by 45.9% in the third quarter. Russell Investments Group Ltd. now owns 584,957 shares of the utilities provider’s stock worth $26,584,000 after acquiring an additional 183,913 shares in the last quarter. Finally, OLD Republic International Corp bought a new stake in shares of Portland General Electric in the third quarter worth about $8,301,000. Institutional investors and hedge funds own 93.66% of the company’s stock.
Shares of Portland General Electric stock opened at $46.68 on Friday. Portland General Electric has a 1 year low of $39.02 and a 1 year high of $50.11. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 6.03 and a beta of 0.19. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.86.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 26th will be given a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, December 24th. This represents a $1.45 annualized dividend and a dividend yield of 3.11%. Portland General Electric’s dividend payout ratio is currently 63.32%.
POR has been the subject of several recent analyst reports. Zacks Investment Research upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 17th. Williams Capital upgraded Portland General Electric from a “sell” rating to a “hold” rating and increased their price target for the stock from $41.00 to $44.00 in a report on Monday, July 30th. Bank of America upgraded Portland General Electric from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 30th. Mizuho restated a “buy” rating and issued a $45.50 price target on shares of Portland General Electric in a report on Friday, July 20th. Finally, ValuEngine upgraded Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $43.83.
About Portland General Electric
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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