Meritage Portfolio Management Purchases New Shares in Portland General Electric Company $POR

Meritage Portfolio Management acquired a new position in Portland General Electric Company (NYSE:POR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 70,149 shares of the utilities provider’s stock, valued at approximately $3,087,000. Meritage Portfolio Management owned approximately 0.06% of Portland General Electric at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Johnson Investment Counsel Inc. raised its stake in Portland General Electric by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 38,261 shares of the utilities provider’s stock worth $1,555,000 after buying an additional 301 shares in the last quarter. Connable Office Inc. grew its holdings in shares of Portland General Electric by 5.1% during the 2nd quarter. Connable Office Inc. now owns 6,564 shares of the utilities provider’s stock worth $267,000 after acquiring an additional 318 shares during the period. Blue Trust Inc. raised its position in shares of Portland General Electric by 12.0% in the 2nd quarter. Blue Trust Inc. now owns 3,281 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 352 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Portland General Electric by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 101,342 shares of the utilities provider’s stock valued at $4,118,000 after purchasing an additional 361 shares during the period. Finally, Bell Investment Advisors Inc lifted its stake in shares of Portland General Electric by 80.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 370 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Portland General Electric in a research note on Monday, December 29th. BTIG Research restated a “buy” rating on shares of Portland General Electric in a report on Tuesday, December 30th. Wells Fargo & Company began coverage on shares of Portland General Electric in a research report on Monday, October 27th. They issued an “equal weight” rating and a $45.00 target price on the stock. LADENBURG THALM/SH SH reissued a “sell” rating and set a $43.00 price target on shares of Portland General Electric in a research report on Thursday, December 4th. Finally, Mizuho set a $47.00 price objective on shares of Portland General Electric in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.58.

Portland General Electric Trading Down 0.0%

NYSE POR opened at $49.27 on Friday. Portland General Electric Company has a 12 month low of $39.54 and a 12 month high of $51.14. The company has a current ratio of 1.08, a quick ratio of 0.95 and a debt-to-equity ratio of 1.25. The stock’s fifty day moving average price is $48.87 and its 200-day moving average price is $44.92. The stock has a market cap of $5.54 billion, a P/E ratio of 17.91, a P/E/G ratio of 4.32 and a beta of 0.67.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Portland General Electric had a return on equity of 8.32% and a net margin of 8.63%.The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $975.64 million. During the same quarter in the previous year, the firm earned $0.90 EPS. Portland General Electric’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Portland General Electric Company will post 3.21 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.525 per share. The ex-dividend date was Monday, December 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.3%. Portland General Electric’s dividend payout ratio is presently 76.36%.

Portland General Electric Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.