Monarch Partners Asset Management LLC bought a new stake in Portland General Electric Company (NYSE:POR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 332,541 shares of the utilities provider’s stock, valued at approximately $15,177,000. Portland General Electric comprises 1.5% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 14th largest position. Monarch Partners Asset Management LLC owned about 0.37% of Portland General Electric at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in POR. Huntington National Bank boosted its stake in shares of Portland General Electric by 1.2% during the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 34 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Portland General Electric during the second quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Portland General Electric by 52.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 1,352 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Portland General Electric during the second quarter valued at about $202,000. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Portland General Electric by 0.3% during the second quarter. BlueMountain Capital Management LLC now owns 5,489 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 17 shares in the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.
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Portland General Electric Company (POR) remained flat at $$47.76 during trading on Monday. The company had a trading volume of 105,019 shares, compared to its average volume of 1,238,250. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4,255.05, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 5.57 and a beta of 0.29. Portland General Electric Company has a one year low of $40.71 and a one year high of $48.22.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.06. The company had revenue of $515.00 million for the quarter, compared to analyst estimates of $497.85 million. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. sell-side analysts anticipate that Portland General Electric Company will post 2.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, December 26th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, December 22nd. Portland General Electric’s dividend payout ratio is currently 59.13%.
A number of analysts have recently commented on POR shares. Zacks Investment Research lowered Portland General Electric from a “buy” rating to a “hold” rating in a research note on Saturday, October 14th. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. BidaskClub raised Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. J P Morgan Chase & Co lifted their price objective on Portland General Electric from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, Bank of America Corporation initiated coverage on Portland General Electric in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Portland General Electric currently has a consensus rating of “Hold” and a consensus target price of $46.00.
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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