Boston Partners Increases Stake in Portland General Electric Company (POR)

Boston Partners boosted its stake in Portland General Electric Company (NYSE:POR) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 3,178,857 shares of the utilities provider’s stock after buying an additional 90,821 shares during the period. Boston Partners’ holdings in Portland General Electric were worth $145,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 valued at $344,879,000 after buying an additional 256,914 shares during the last quarter. Renaissance Technologies LLC increased its position in Portland General Electric by 27.4% in the first quarter. Renaissance Technologies LLC now owns 1,155,300 shares of the utilities provider’s stock valued at $51,318,000 after buying an additional 248,300 shares during the last quarter. ClariVest Asset Management LLC increased its position in Portland General Electric by 23.1% in the first quarter. ClariVest Asset Management LLC now owns 30,900 shares of the utilities provider’s stock valued at $1,372,000 after buying an additional 5,800 shares during the last quarter. Teachers Advisors LLC increased its position in Portland General Electric by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 147,329 shares of the utilities provider’s stock valued at $6,384,000 after buying an additional 4,432 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its position in Portland General Electric by 9.4% in the first quarter. First Midwest Bank Trust Division now owns 6,953 shares of the utilities provider’s stock valued at $309,000 after buying an additional 596 shares during the last quarter. Institutional investors own 95.29% of the company’s stock.

Portland General Electric Company (NYSE POR) opened at 45.90 on Friday. The company has a market cap of $4.09 billion, a P/E 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 firm has a 50-day moving average price of $45.37 and a 200 day moving average price of $45.24.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.08. Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The firm had revenue of $449 million for the quarter, compared to analysts’ expectations of $465.70 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Portland General Electric Company will post $2.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 25th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, September 22nd. Portland General Electric’s dividend payout ratio is presently 60.71%.

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Several research analysts have recently weighed in on POR shares. Zacks Investment Research downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. Barclays PLC reiterated an “underweight” rating and set a $44.00 price target (up previously from $41.00) on shares of Portland General Electric in a research note on Sunday, April 23rd. BidaskClub downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Williams Capital downgraded Portland General Electric from a “hold” rating to a “sell” rating and cut their price target for the stock from $44.00 to $41.00 in a research note on Monday, July 24th. Finally, UBS AG downgraded Portland General Electric from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average price target of $42.00.

In other Portland General Electric news, VP Campbell A. Henderson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total transaction of $135,030.00. Following the completion of the sale, the vice president now owns 20,424 shares of the company’s stock, valued at $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 business’s stock in a transaction dated 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 directly owns 16,313 shares of the company’s stock, valued at approximately $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.

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

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