45,700 Shares in Portland General Electric Company $POR Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Portland General Electric Company (NYSE:POR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,700 shares of the utilities provider’s stock, valued at approximately $2,369,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Portland General Electric by 7.4% in the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after buying an additional 1,292,219 shares during the period. California State Teachers Retirement System boosted its position in Portland General Electric by 4,959.5% during the 2nd quarter. California State Teachers Retirement System now owns 6,896,396 shares of the utilities provider’s stock worth $357,440,000 after buying an additional 6,760,091 shares during the period. State Street Corp grew its holdings in Portland General Electric by 3.4% during the 4th quarter. State Street Corp now owns 4,728,784 shares of the utilities provider’s stock worth $229,333,000 after acquiring an additional 156,164 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Portland General Electric by 1,342.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Portland General Electric by 42.2% in the 4th quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after acquiring an additional 1,054,450 shares during the period.

Portland General Electric Stock Down 0.7%

Shares of NYSE:POR opened at $48.55 on Friday. Portland General Electric Company has a 1 year low of $41.80 and a 1 year high of $54.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. The business’s 50-day moving average is $50.53 and its 200-day moving average is $51.08. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.10 and a beta of 0.51.

Portland General Electric (NYSE:POR) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $839.75 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts predict that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be paid a $0.5513 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.5%. Portland General Electric’s dividend payout ratio (DPR) is currently 96.92%.

Insider Activity at Portland General Electric

In related news, Director Michael Lewis sold 1,537 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director directly owned 15,045 shares of the company’s stock, valued at $779,782.35. The trade was a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on POR shares. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings downgraded Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. lowered their target price on Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday. BMO Capital Markets set a $52.00 target price on Portland General Electric in a report on Tuesday, August 4th. Finally, LADENBURG THALM/SH SH raised Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target for the company in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.15.

Portland General Electric Profile

Portland General Electric Company (NYSE: POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.