Portland General Electric (POR) Holdings Raised by Renaissance Technologies LLC
Renaissance Technologies LLC raised its position in Portland General Electric (NYSE:POR) by 33.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,840,200 shares of the utilities provider’s stock after buying an additional 457,030 shares during the quarter. Renaissance Technologies LLC’s holdings in Portland General Electric were worth $83,876,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $122,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Portland General Electric in the 4th quarter valued at approximately $161,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Portland General Electric by 121.2% in the 3rd 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 last quarter. Jane Street Group LLC purchased a new stake in shares of Portland General Electric in the 3rd quarter valued at approximately $201,000. Finally, Breton Hill Capital Ltd. purchased a new stake in shares of Portland General Electric in the 3rd quarter valued at approximately $204,000. 91.53% of the stock is currently owned by institutional investors.
Portland General Electric (POR) opened at $39.18 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.22 and a quick ratio of 1.04. The company has a market cap of $3,491.53, a price-to-earnings ratio of 18.66, a P/E/G ratio of 6.11 and a beta of 0.25. Portland General Electric has a 52-week low of $39.02 and a 52-week high of $50.11.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, March 26th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, March 23rd. Portland General Electric’s dividend payout ratio (DPR) is 64.76%.
A number of equities research analysts have commented on POR shares. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Portland General Electric from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. UBS Group started coverage on shares of Portland General Electric in a research report on Friday, February 2nd. They issued a “sell” rating and a $40.00 price objective on the stock. Bank of America dropped their price objective on shares of Portland General Electric from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Finally, Gabelli reissued a “hold” rating on shares of Portland General Electric in a research report on Tuesday, February 20th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.61.
In related news, VP Bradley Young Jenkins sold 618 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.47, for a total value of $25,010.46. Following the transaction, the vice president now directly owns 896 shares of the company’s stock, valued at approximately $36,261.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.55% of the company’s stock.
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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