Schwab Charles Investment Management Inc. Grows Stake in Portland General Electric Company (POR)

Schwab Charles Investment Management Inc. lifted its holdings in Portland General Electric Company (NYSE:POR) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 731,108 shares of the utilities provider’s stock after acquiring an additional 57,568 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.82% of Portland General Electric worth $33,405,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in POR. IFP Advisors Inc increased its stake in shares of Portland General Electric by 0.4% in the first quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 10 shares during the period. Huntington National Bank increased its stake in shares of Portland General Electric by 1.2% in the second quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 34 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Portland General Electric in the second quarter worth $202,000. Blair William & Co. IL increased its stake in shares of Portland General Electric by 19.8% in the first quarter. Blair William & Co. IL now owns 5,737 shares of the utilities provider’s stock worth $259,000 after acquiring an additional 950 shares during the period. Finally, Regentatlantic Capital LLC increased its stake in shares of Portland General Electric by 4.4% in the second quarter. Regentatlantic Capital LLC now owns 5,825 shares of the utilities provider’s stock worth $266,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.

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A number of research firms have recently weighed in on POR. KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. BidaskClub upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Williams Capital lowered shares of Portland General Electric from a “hold” rating to a “sell” rating and cut their price objective for the stock from $44.00 to $41.00 in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $42.00.

Shares of Portland General Electric Company (NYSE:POR) opened at 47.24 on Wednesday. Portland General Electric Company has a 52-week low of $40.28 and a 52-week high of $48.22. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 21.09 and a beta of 0.29. The company’s 50-day moving average is $46.39 and its 200 day moving average is $45.79.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). Portland General Electric had a net margin of 10.06% and a return on equity of 8.48%. The business had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $465.70 million. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Portland General Electric Company will post $2.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 25th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, September 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.88%. Portland General Electric’s payout ratio is currently 60.71%.

About Portland General Electric

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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