Nationwide Fund Advisors Increases Stake in Portland General Electric (POR)

Nationwide Fund Advisors lifted its holdings in Portland General Electric (NYSE:POR) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 257,431 shares of the utilities provider’s stock after purchasing an additional 3,448 shares during the period. Nationwide Fund Advisors owned about 0.29% of Portland General Electric worth $11,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in POR. Nisa Investment Advisors LLC lifted its position in shares of Portland General Electric by 120.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,790 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 6,990 shares during the period. US Bancorp DE lifted its position in shares of Portland General Electric by 10.2% in the 2nd quarter. US Bancorp DE now owns 9,053 shares of the utilities provider’s stock worth $414,000 after purchasing an additional 836 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Portland General Electric by 24.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 188,379 shares of the utilities provider’s stock worth $8,606,000 after purchasing an additional 36,407 shares during the period. Strs Ohio lifted its position in Portland General Electric by 5.9% during the second quarter. Strs Ohio now owns 18,000 shares of the utilities provider’s stock valued at $822,000 after acquiring an additional 1,000 shares during the last quarter. Finally, NGAM Advisors L.P. lifted its position in Portland General Electric by 3.3% during the second quarter. NGAM Advisors L.P. now owns 19,893 shares of the utilities provider’s stock valued at $909,000 after acquiring an additional 629 shares during the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

Portland General Electric (NYSE:POR) traded down $0.15 during trading hours on Monday, reaching $49.49. 557,100 shares of the company were exchanged, compared to its average volume of 590,028. Portland General Electric has a 12 month low of $40.71 and a 12 month high of $50.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.81. The stock has a market capitalization of $4,409.18, a PE ratio of 21.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.30.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06. Portland General Electric had a net margin of 10.21% and a return on equity of 8.65%. The business had revenue of $515.00 million for the quarter, compared to analyst estimates of $497.85 million. During the same quarter in the prior year, the business posted $0.38 EPS. Portland General Electric’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities analysts anticipate that Portland General Electric will post 2.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.75%. Portland General Electric’s payout ratio is 59.13%.

A number of equities research analysts recently commented on the stock. J P Morgan Chase & Co increased their target price on shares of Portland General Electric from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Bank of America assumed coverage on shares of Portland General Electric in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price for the company. Zacks Investment Research raised shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, October 4th. BidaskClub raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Portland General Electric presently has an average rating of “Hold” and a consensus price target of $46.00.

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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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