Exchange Traded Concepts LLC Buys New Stake in Portland General Electric Company $POR

Exchange Traded Concepts LLC purchased a new position in Portland General Electric Company (NYSE:POR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,858 shares of the utilities provider’s stock, valued at approximately $830,000.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Portland General Electric by 1,291.7% in the 2nd quarter. IFP Advisors Inc now owns 668 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. S.A. Mason LLC purchased a new stake in Portland General Electric in the second quarter valued at about $29,000. Bell Investment Advisors Inc raised its stake in Portland General Electric by 80.6% in the second quarter. Bell Investment Advisors Inc now owns 829 shares of the utilities provider’s stock valued at $34,000 after buying an additional 370 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Portland General Electric by 83.3% in the second quarter. Tompkins Financial Corp now owns 1,100 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 500 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Portland General Electric during the second quarter worth about $51,000.

Analysts Set New Price Targets

POR has been the subject of several research analyst reports. Barclays increased their price objective on shares of Portland General Electric from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. LADENBURG THALM/SH SH reissued a “sell” rating and set a $43.00 price objective on shares of Portland General Electric in a report on Thursday, December 4th. Jefferies Financial Group raised their target price on Portland General Electric from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, BTIG Research raised Portland General Electric to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.55.

Portland General Electric Trading Down 0.2%

Shares of Portland General Electric stock opened at $47.59 on Monday. The stock has a market cap of $5.35 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 4.35 and a beta of 0.67. The firm has a fifty day moving average price of $48.20 and a 200 day moving average price of $44.18. Portland General Electric Company has a 1 year low of $39.54 and a 1 year high of $51.14. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 0.95.

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

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is currently 76.36%.

About Portland General Electric

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.