According to Zacks, “Portland General Electric, headquartered in Portland, Ore., is a vertically integrated electric utility that serves residential, commercial and industrial customers in Oregon. The company has more than a century of experience in power delivery. PGE generates power from a diverse mix of resources, including hydropower, coal and natural gas. PGE also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers. “
POR has been the subject of several other reports. Williams Capital raised their price objective on shares of Portland General Electric from $41.00 to $45.00 and gave the stock a hold rating in a report on Friday, August 5th. Bank of America Corp. lowered shares of Portland General Electric from a buy rating to a neutral rating and set a $45.00 price objective for the company. in a report on Tuesday, August 2nd. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has an average rating of Hold and a consensus target price of $41.21.
Shares of Portland General Electric (NYSE:POR) traded up 0.17% on Wednesday, hitting $40.89. 117,177 shares of the stock were exchanged. Portland General Electric has a one year low of $34.97 and a one year high of $45.21. The firm’s 50 day moving average price is $42.69 and its 200 day moving average price is $41.88. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.71 and a beta of 0.31.
Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $428 million for the quarter, compared to analyst estimates of $439.08 million. Portland General Electric had a return on equity of 8.15% and a net margin of 9.79%. Portland General Electric’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. Equities analysts anticipate that Portland General Electric will post $2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $1.28 annualized dividend and a yield of 3.14%. Portland General Electric’s dividend payout ratio is presently 61.84%.
A number of hedge funds have recently modified their holdings of POR. Public Employees Retirement System of Ohio increased its stake in shares of Portland General Electric by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,647 shares of the company’s stock valued at $293,000 after buying an additional 47 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Portland General Electric by 3.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,597 shares of the company’s stock valued at $261,000 after buying an additional 231 shares in the last quarter. Amalgamated Bank increased its stake in shares of Portland General Electric by 2.6% in the second quarter. Amalgamated Bank now owns 9,774 shares of the company’s stock valued at $421,000 after buying an additional 245 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Portland General Electric by 2.2% in the second quarter. Profund Advisors LLC now owns 12,259 shares of the company’s stock valued at $541,000 after buying an additional 266 shares in the last quarter. Finally, West Coast Financial LLC increased its stake in shares of Portland General Electric by 0.4% in the second quarter. West Coast Financial LLC now owns 78,657 shares of the company’s stock valued at $3,470,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.
Portland General Electric Company Profile
Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.
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