Portland General Electric (NYSE:POR) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of Portland General Electric (NYSE:PORGet Rating) by 0.3% in the second quarter, HoldingsChannel reports. The firm owned 210,700 shares of the utilities provider’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Portland General Electric were worth $10,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POR. Nuance Investments LLC acquired a new position in Portland General Electric during the second quarter valued at $57,878,000. Wellington Management Group LLP raised its position in shares of Portland General Electric by 21.8% in the first quarter. Wellington Management Group LLP now owns 6,067,961 shares of the utilities provider’s stock worth $334,647,000 after acquiring an additional 1,087,996 shares during the period. Leeward Investments LLC MA acquired a new position in shares of Portland General Electric in the first quarter worth about $35,681,000. Granite Investment Partners LLC acquired a new position in shares of Portland General Electric in the second quarter worth about $17,512,000. Finally, State Street Corp raised its position in shares of Portland General Electric by 16.1% in the first quarter. State Street Corp now owns 2,434,259 shares of the utilities provider’s stock worth $135,271,000 after acquiring an additional 337,867 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

POR has been the subject of a number of analyst reports. Bank of America downgraded shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research report on Monday, August 1st. StockNews.com upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Mizuho decreased their price objective on shares of Portland General Electric from $51.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, October 7th. TheStreet downgraded shares of Portland General Electric from a “b” rating to a “c+” rating in a research report on Wednesday, October 26th. Finally, Guggenheim reduced their price target on shares of Portland General Electric from $56.00 to $48.00 in a research report on Monday, October 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.57.

Portland General Electric Stock Up 2.7 %

POR opened at $47.13 on Monday. Portland General Electric has a twelve month low of $41.58 and a twelve month high of $57.03. The company has a quick ratio of 0.67, a current ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average price of $45.91 and a 200 day moving average price of $48.56. The company has a market cap of $4.21 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57.

Portland General Electric (NYSE:PORGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $636.61 million. During the same quarter in the prior year, the company earned $0.56 EPS. Portland General Electric’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Portland General Electric will post 2.84 earnings per share for the current fiscal year.

Portland General Electric Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, December 27th will be paid a dividend of $0.452 per share. The ex-dividend date of this dividend is Friday, December 23rd. This represents a $1.81 annualized dividend and a yield of 3.84%. Portland General Electric’s dividend payout ratio is presently 65.34%.

Portland General Electric Company Profile

(Get Rating)

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.

See Also

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

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