Swiss National Bank lessened its position in Portland General Electric (NYSE:POR – Get Rating) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,700 shares of the utilities provider’s stock after selling 700 shares during the quarter. Swiss National Bank owned 0.24% of Portland General Electric worth $10,183,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Portland General Electric by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,727,335 shares of the utilities provider’s stock worth $536,463,000 after buying an additional 288,965 shares during the period. Wellington Management Group LLP increased its stake in Portland General Electric by 21.8% in the 1st quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after buying an additional 1,087,996 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Portland General Electric by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,457,203 shares of the utilities provider’s stock worth $245,815,000 after buying an additional 21,930 shares during the period. JPMorgan Chase & Co. increased its stake in Portland General Electric by 2.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,125,242 shares of the utilities provider’s stock worth $172,357,000 after buying an additional 76,834 shares during the period. Finally, State Street Corp increased its stake in Portland General Electric by 16.1% in the 1st quarter. State Street Corp now owns 2,434,259 shares of the utilities provider’s stock worth $135,271,000 after buying an additional 337,867 shares during the period. Institutional investors own 99.67% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Mizuho reduced their price target on shares of Portland General Electric from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, October 7th. StockNews.com raised shares of Portland General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Guggenheim cut their target price on shares of Portland General Electric from $56.00 to $48.00 in a research report on Monday, October 24th. TheStreet downgraded shares of Portland General Electric from a “b” rating to a “c+” rating in a research report on Wednesday, October 26th. Finally, Credit Suisse Group raised shares of Portland General Electric from an “underperform” rating to a “neutral” rating and raised their target price for the company from $43.00 to $46.00 in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.57.
Portland General Electric Stock Up 2.7 %
Portland General Electric (NYSE:POR – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Portland General Electric had a net margin of 9.66% and a return on equity of 9.09%. The firm had revenue of $743.00 million for the quarter, compared to the consensus estimate of $636.61 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Portland General Electric will post 2.84 EPS for the current fiscal year.
Portland General Electric Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, December 27th will be given a dividend of $0.452 per share. This represents a $1.81 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, December 23rd. Portland General Electric’s dividend payout ratio is presently 65.34%.
Portland General Electric Company Profile
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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