First Republic Investment Management Inc. Has $29.88 Million Position in Portland General Electric (POR)

First Republic Investment Management Inc. cut its stake in shares of Portland General Electric (NYSE:POR) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 654,780 shares of the utilities provider’s stock after selling 80,637 shares during the period. First Republic Investment Management Inc. owned approximately 0.73% of Portland General Electric worth $29,884,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Segall Bryant & Hamill LLC bought a new position in Portland General Electric during the third quarter worth about $228,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in Portland General Electric by 1.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,160,230 shares of the utilities provider’s stock worth $52,953,000 after acquiring an additional 13,390 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Portland General Electric by 2.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 748,686 shares of the utilities provider’s stock worth $34,171,000 after acquiring an additional 17,578 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Portland General Electric by 79.0% during the third quarter. Wells Fargo & Company MN now owns 637,091 shares of the utilities provider’s stock worth $29,078,000 after acquiring an additional 281,151 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Portland General Electric by 1.2% during the third quarter. Schroder Investment Management Group now owns 261,859 shares of the utilities provider’s stock worth $12,074,000 after acquiring an additional 3,124 shares in the last quarter. 92.62% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on POR. J P Morgan Chase & Co lifted their target price on Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Bank of America began coverage on Portland General Electric in a report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price on the stock. Zacks Investment Research upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, October 4th. BidaskClub upgraded Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.

Shares of Portland General Electric (NYSE POR) traded up $0.11 during trading on Thursday, hitting $48.53. The stock had a trading volume of 379,000 shares, compared to its average volume of 587,960. The company has a market capitalization of $4,313.85, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 5.65 and a beta of 0.30. Portland General Electric has a 12 month low of $41.04 and a 12 month high of $50.11. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. analysts expect that Portland General Electric will post 2.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 26th will be issued a $0.34 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.80%. Portland General Electric’s dividend payout ratio (DPR) is 59.13%.

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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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