Commonwealth Bank of Australia grew its position in Portland General Electric (NYSE:POR) by 13.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,617,082 shares of the utilities provider’s stock after buying an additional 187,385 shares during the period. Commonwealth Bank of Australia owned approximately 1.81% of Portland General Electric worth $74,132,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Portland General Electric by 38.1% in the 4th quarter. Bessemer Group Inc. now owns 73,209 shares of the utilities provider’s stock valued at $3,357,000 after purchasing an additional 20,200 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Portland General Electric by 18.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the utilities provider’s stock valued at $467,000 after acquiring an additional 1,629 shares during the period. NumerixS Investment Technologies Inc grew its stake in Portland General Electric by 50.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 700 shares during the period. GSA Capital Partners LLP acquired a new stake in Portland General Electric in the 4th quarter valued at $509,000. Finally, Citigroup Inc. grew its stake in Portland General Electric by 177.5% in the 4th quarter. Citigroup Inc. now owns 69,941 shares of the utilities provider’s stock valued at $3,207,000 after acquiring an additional 44,735 shares during the period. Hedge funds and other institutional investors own 95.69% of the company’s stock.
In other news, VP Larry Neal Bekkedahl sold 2,700 shares of Portland General Electric stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $49.70, for a total transaction of $134,190.00. Following the transaction, the vice president now owns 9,829 shares in the company, valued at $488,501.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company’s stock.
Shares of NYSE POR opened at $51.94 on Friday. The company has a market capitalization of $4.65 billion, a P/E ratio of 21.92, a P/E/G ratio of 5.40 and a beta of 0.26. Portland General Electric has a 12-month low of $39.09 and a 12-month high of $52.42. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.71 and a current ratio of 0.81.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, February 15th. The utilities provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $520.95 million. Portland General Electric had a return on equity of 8.56% and a net margin of 10.65%. During the same quarter in the previous year, the business earned $0.67 EPS. On average, research analysts forecast that Portland General Electric will post 2.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 25th will be issued a dividend of $0.3625 per share. The ex-dividend date is Friday, March 22nd. This represents a $1.45 dividend on an annualized basis and a dividend yield of 2.79%. Portland General Electric’s dividend payout ratio is 61.18%.
A number of research firms recently issued reports on POR. Zacks Investment Research cut shares of Portland General Electric from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Mizuho reaffirmed a “buy” rating and issued a $50.00 target price on shares of Portland General Electric in a research report on Thursday, February 14th. Barclays lifted their target price on Portland General Electric from $42.00 to $43.00 and gave the company a “sell” rating in a research report on Monday, November 19th. Finally, ValuEngine upgraded Portland General Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.00.
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Portland General Electric Profile
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, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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