Vident Investment Advisory LLC Has $2.82 Million Stake in Portland General Electric (POR)
Vident Investment Advisory LLC increased its position in shares of Portland General Electric (NYSE:POR) by 13.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,803 shares of the utilities provider’s stock after buying an additional 7,562 shares during the quarter. Vident Investment Advisory LLC owned about 0.07% of Portland General Electric worth $2,821,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in Portland General Electric in the second quarter valued at approximately $141,000. Mark Sheptoff Financial Planning LLC raised its position in Portland General Electric by 121.2% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 2,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Portland General Electric by 52.9% in 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 during the period. Janney Montgomery Scott LLC purchased a new stake in Portland General Electric in the second quarter valued at approximately $202,000. Finally, Breton Hill Capital Ltd. purchased a new stake in Portland General Electric in the third quarter valued at approximately $204,000. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on POR shares. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. J P Morgan Chase & Co boosted their target price on Portland General Electric from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. BidaskClub raised Portland General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research report on Friday, September 1st. Finally, Bank of America started coverage on Portland General Electric in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.00.
Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The business had revenue of $515.00 million during the quarter, compared to the consensus estimate of $497.85 million. Portland General Electric had a net margin of 10.21% and a return on equity of 8.65%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. research analysts expect that Portland General Electric will post 2.26 earnings per share for the current fiscal year.
The firm 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 $0.34 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.80%. Portland General Electric’s dividend payout ratio (DPR) is 59.13%.
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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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