Portland General Electric Company (NYSE:POR) Stake Raised by Bank of Montreal Can

Bank of Montreal Can boosted its position in Portland General Electric Company (NYSE:POR) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 627,487 shares of the utilities provider’s stock after buying an additional 9,072 shares during the period. Bank of Montreal Can owned approximately 0.70% of Portland General Electric worth $28,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Portland General Electric by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,764,045 shares of the utilities provider’s stock worth $344,879,000 after buying an additional 256,914 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Portland General Electric by 9,433.7% in the first quarter. BlackRock Inc. now owns 6,083,042 shares of the utilities provider’s stock worth $270,207,000 after buying an additional 6,019,236 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Portland General Electric by 5.2% in the first quarter. JPMorgan Chase & Co. now owns 4,662,302 shares of the utilities provider’s stock worth $207,099,000 after buying an additional 230,831 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Portland General Electric by 8.4% in the first quarter. Alliancebernstein L.P. now owns 3,182,938 shares of the utilities provider’s stock worth $141,386,000 after buying an additional 247,232 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Portland General Electric by 21.9% in the first quarter. Boston Partners now owns 3,088,036 shares of the utilities provider’s stock worth $137,171,000 after buying an additional 554,983 shares during the last quarter. Hedge funds and other institutional investors own 95.29% of the company’s stock.

Shares of Portland General Electric Company (POR) traded down 1.21% on Friday, reaching $45.90. The company had a trading volume of 408,913 shares. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 20.49 and a beta of 0.29. Portland General Electric Company has a 52-week low of $40.28 and a 52-week high of $48.06. The company’s 50-day moving average price is $45.40 and its 200-day moving average price is $45.22.

Portland General Electric (NYSE:POR) last released 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 million during the quarter, compared to the consensus estimate of $465.70 million. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, analysts predict that Portland General Electric Company will post $2.22 earnings per share for the current year.

The company also recently declared 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. The ex-dividend date is Friday, September 22nd. This represents a $1.36 annualized dividend and a yield of 2.96%. Portland General Electric’s dividend payout ratio (DPR) is presently 60.71%.

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POR has been the subject of a number of recent analyst reports. Zacks Investment Research cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. Barclays PLC reissued an “underweight” rating and issued a $44.00 price objective (up from $41.00) on shares of Portland General Electric in a research report on Sunday, April 23rd. BidaskClub cut Portland General Electric from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Williams Capital cut Portland General Electric from a “hold” rating to a “sell” rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Monday, July 24th. Finally, UBS AG cut Portland General Electric from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. Five analysts have rated the stock with a sell rating and four have given a hold rating to the company. Portland General Electric has a consensus rating of “Sell” and a consensus target price of $42.00.

In related news, VP Campbell A. Henderson sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the completion of the sale, the vice president now directly owns 20,424 shares in the company, valued at approximately $919,284.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William O. Nicholson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.10, for a total value of $270,600.00. Following the sale, the insider now owns 16,313 shares of the company’s stock, valued at $735,716.30. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Portland General Electric Company 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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