New York State Common Retirement Fund grew its stake in Portland General Electric (NYSE:POR) by 134.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,075 shares of the utilities provider’s stock after purchasing an additional 143,500 shares during the period. New York State Common Retirement Fund owned about 0.28% of Portland General Electric worth $11,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in Portland General Electric by 4.2% in the 2nd quarter. State Street Corp now owns 1,965,713 shares of the utilities provider’s stock valued at $89,810,000 after buying an additional 79,541 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Portland General Electric by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,705,994 shares of the utilities provider’s stock valued at $215,017,000 after buying an additional 43,692 shares during the last quarter. Legal & General Group Plc raised its holdings in Portland General Electric by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 317,870 shares of the utilities provider’s stock valued at $14,527,000 after buying an additional 15,254 shares during the last quarter. Jackson Wealth Management LLC raised its holdings in Portland General Electric by 9.6% in the 2nd quarter. Jackson Wealth Management LLC now owns 45,503 shares of the utilities provider’s stock valued at $2,053,000 after buying an additional 3,972 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its holdings in Portland General Electric by 7.2% in the 2nd quarter. Magellan Asset Management Ltd now owns 60,626 shares of the utilities provider’s stock valued at $2,770,000 after buying an additional 4,072 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Portland General Electric (POR) opened at $46.43 on Wednesday. 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 has a fifty-two week low of $42.35 and a fifty-two week high of $50.11. The stock has a market cap of $4,220.30, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 5.52 and a beta of 0.30.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $515.00 million during the quarter, compared to analyst estimates of $497.85 million. During the same quarter last year, the business earned $0.38 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. sell-side analysts forecast that Portland General Electric will post 2.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, December 22nd. This represents a $1.36 annualized dividend and a yield of 2.93%. Portland General Electric’s payout ratio is 59.13%.

A number of brokerages recently issued reports on POR. Bank of America began coverage on shares of Portland General Electric in a report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price objective for the company. Zacks Investment Research lowered shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. J P Morgan Chase & Co raised their price objective on shares of Portland General Electric from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, BidaskClub upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Portland General Electric has an average rating of “Hold” and a consensus price target of $46.00.

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Portland General Electric 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.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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