Goldman Sachs Group Inc. Grows Holdings in Portland General Electric Company (POR)
Goldman Sachs Group Inc. raised its position in shares of Portland General Electric Company (NYSE:POR) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,573,684 shares of the utilities provider’s stock after purchasing an additional 23,695 shares during the period. Goldman Sachs Group Inc. owned approximately 2.89% of Portland General Electric worth $117,591,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. BlueMountain Capital Management LLC boosted its holdings in shares of Portland General Electric by 0.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 5,489 shares of the utilities provider’s stock worth $251,000 after purchasing an additional 17 shares in the last quarter. Huntington National Bank increased its position in shares of Portland General Electric by 1.2% during the 2nd 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 during the last quarter. Trust Co. of Vermont increased its position in shares of Portland General Electric by 0.3% during the 2nd quarter. Trust Co. of Vermont now owns 11,889 shares of the utilities provider’s stock valued at $544,000 after purchasing an additional 41 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Portland General Electric by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,167 shares of the utilities provider’s stock valued at $1,287,000 after purchasing an additional 122 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Portland General Electric by 1.1% during the 2nd quarter. Amalgamated Bank now owns 11,374 shares of the utilities provider’s stock valued at $520,000 after buying an additional 123 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Portland General Electric Company (NYSE:POR) traded down 0.80% during trading on Tuesday, reaching $45.73. The company’s stock had a trading volume of 102,628 shares. Portland General Electric Company has a 12-month low of $40.28 and a 12-month high of $48.22. The company has a 50 day moving average of $46.78 and a 200-day moving average of $45.97. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 20.42 and a beta of 0.28.
Portland General Electric (NYSE:POR) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). The firm had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $465.70 million. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Analysts forecast that Portland General Electric Company will post $2.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 25th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, September 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.95%. Portland General Electric’s dividend payout ratio is 60.71%.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. BidaskClub upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Williams Capital downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Monday, July 24th. Finally, KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.00.
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About Portland General Electric
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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