Portland General Electric Co. (POR) Position Cut by Royal Bank of Canada
Royal Bank of Canada cut its stake in shares of Portland General Electric Co. (NYSE:POR) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 957,026 shares of the company’s stock after selling 83,291 shares during the period. Royal Bank of Canada owned about 1.08% of Portland General Electric worth $42,224,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Portland General Electric by 5.1% in the second quarter. Vanguard Group Inc. now owns 7,058,875 shares of the company’s stock valued at $311,437,000 after buying an additional 345,360 shares during the last quarter. Boston Partners raised its position in shares of Portland General Electric by 10.3% in the second quarter. Boston Partners now owns 3,080,497 shares of the company’s stock valued at $135,912,000 after buying an additional 288,848 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Portland General Electric by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,347,038 shares of the company’s stock valued at $103,551,000 after buying an additional 27,665 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Portland General Electric by 2.3% in the second quarter. BlackRock Fund Advisors now owns 2,327,533 shares of the company’s stock valued at $102,691,000 after buying an additional 51,323 shares in the last quarter. Finally, State Street Corp raised its position in shares of Portland General Electric by 4.2% in the first quarter. State Street Corp now owns 1,793,466 shares of the company’s stock valued at $70,824,000 after buying an additional 71,660 shares in the last quarter. Institutional investors own 93.82% of the company’s stock.
Shares of Portland General Electric Co. (NYSE:POR) traded up 0.41% during midday trading on Friday, reaching $41.74. 447,903 shares of the company traded hands. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 20.30 and a beta of 0.31. Portland General Electric Co. has a 12 month low of $34.99 and a 12 month high of $45.21. The company’s 50 day moving average is $42.10 and its 200-day moving average is $42.37.
Portland General Electric (NYSE:POR) last posted its earnings results on Friday, October 28th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Portland General Electric had a net margin of 9.64% and a return on equity of 7.99%. The business had revenue of $484 million for the quarter, compared to analysts’ expectations of $473 million. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Portland General Electric Co. will post $2.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, December 27th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.07%. Portland General Electric’s dividend payout ratio (DPR) is presently 62.44%.
Several equities analysts have recently commented on POR shares. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Guggenheim started coverage on shares of Portland General Electric in a report on Thursday, November 3rd. They issued a “neutral” rating on the stock. Williams Capital upped their price objective on shares of Portland General Electric from $41.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Bank of America Corp. lowered shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $42.08.
Portland General Electric Company Profile
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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