Cipher Capital LP Has $372,000 Stake in Portland General Electric Company (POR)

Cipher Capital LP reduced its stake in shares of Portland General Electric Company (NYSE:POR) by 59.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,144 shares of the utilities provider’s stock after selling 11,754 shares during the quarter. Cipher Capital LP’s holdings in Portland General Electric were worth $372,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank grew its position in shares of Portland General Electric by 1.2% during the 2nd quarter. Huntington National Bank now owns 2,809 shares of the utilities provider’s stock worth $128,000 after buying an additional 34 shares during the period. IFP Advisors Inc grew its position in shares of Portland General Electric by 0.4% during the 1st quarter. IFP Advisors Inc now owns 2,811 shares of the utilities provider’s stock worth $125,000 after buying an additional 10 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Portland General Electric by 52.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,352 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Portland General Electric during the 2nd quarter worth about $202,000. Finally, Blair William & Co. IL grew its position in shares of Portland General Electric by 19.8% during the 1st quarter. Blair William & Co. IL now owns 5,737 shares of the utilities provider’s stock worth $259,000 after buying an additional 950 shares during the period. Institutional investors own 93.19% of the company’s stock.

Portland General Electric Company (NYSE:POR) opened at 47.87 on Monday. The company has a market cap of $4.26 billion, a PE ratio of 21.37 and a beta of 0.29. The stock’s 50 day moving average price is $46.33 and its 200 day moving average price is $45.73. Portland General Electric Company has a 12-month low of $40.28 and a 12-month high of $48.06.

Portland General Electric (NYSE:POR) last released its 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 return on equity of 8.48% and a net margin of 10.06%. The business had revenue of $449 million for the quarter, compared to analyst estimates of $465.70 million. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Portland General Electric Company will post $2.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $1.36 annualized dividend and a yield of 2.84%. Portland General Electric’s dividend payout ratio is currently 60.71%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Portland General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub lowered Portland General Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Williams Capital lowered Portland General Electric from a “hold” rating to a “sell” rating and decreased their target price for the stock from $44.00 to $41.00 in a research report on Monday, July 24th. Finally, KeyCorp restated a “hold” rating on shares of Portland General Electric in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.00.

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Portland General Electric Company Profile

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.

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

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