Prudential PLC Maintains Position in Portland General Electric Company (POR)

Prudential PLC continued to hold its stake in Portland General Electric Company (NYSE:POR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,100 shares of the utilities provider’s stock at the close of the second quarter. Prudential PLC’s holdings in Portland General Electric were worth $324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Portland General Electric by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 4,705,994 shares of the utilities provider’s stock worth $215,017,000 after purchasing an additional 43,692 shares during the period. Legal & General Group Plc increased its stake in shares of Portland General Electric by 5.0% during the second quarter. Legal & General Group Plc now owns 317,870 shares of the utilities provider’s stock worth $14,527,000 after purchasing an additional 15,254 shares during the period. Jackson Wealth Management LLC increased its stake in shares of Portland General Electric by 9.6% during the second quarter. Jackson Wealth Management LLC now owns 45,503 shares of the utilities provider’s stock worth $2,053,000 after purchasing an additional 3,972 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Portland General Electric by 6.7% during the second quarter. State of Alaska Department of Revenue now owns 9,806 shares of the utilities provider’s stock worth $448,000 after purchasing an additional 614 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Portland General Electric by 3.4% during the first quarter. Vanguard Group Inc. now owns 7,764,045 shares of the utilities provider’s stock worth $344,879,000 after purchasing an additional 256,914 shares during the period. Institutional investors own 93.16% of the company’s stock.

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Portland General Electric Company (POR) opened at 46.59 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 20.80 and a beta of 0.28. The firm’s 50-day moving average price is $46.72 and its 200-day moving average price is $46.04. Portland General Electric Company has a 1-year low of $40.71 and a 1-year high of $48.22.

Portland General Electric (NYSE:POR) last posted its quarterly earnings data 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 firm had revenue of $449.00 million during the quarter, compared to analysts’ expectations of $465.70 million. During the same quarter in the previous year, the company posted $0.42 EPS. Portland General Electric’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that Portland General Electric Company will post $2.22 EPS for the current fiscal year.

The business also recently announced 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 of this dividend is Friday, September 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.92%. Portland General Electric’s dividend payout ratio is currently 60.71%.

A number of equities analysts have recently weighed in on the company. J P Morgan Chase & Co increased their target price on Portland General Electric from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Investment Research upgraded Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, October 4th. BidaskClub upgraded Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Williams Capital lowered Portland General Electric from a “hold” rating to a “sell” rating and lowered their target price for the stock from $44.00 to $41.00 in a research note on Monday, July 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.60.

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.

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

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