Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Portland General Electric (NYSE:POR) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,604 shares of the utilities provider’s stock after acquiring an additional 10,396 shares during the quarter. Dalton Greiner Hartman Maher & Co.’s holdings in Portland General Electric were worth $14,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of POR. BlackRock Inc. increased its holdings in Portland General Electric by 18.0% in the second quarter. BlackRock Inc. now owns 7,180,796 shares of the utilities provider’s stock worth $328,091,000 after purchasing an additional 1,097,754 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in Portland General Electric in the third quarter worth approximately $15,177,000. APG Asset Management N.V. bought a new stake in Portland General Electric in the third quarter worth approximately $13,286,000. Wells Fargo & Company MN increased its holdings in Portland General Electric by 79.0% in the third quarter. Wells Fargo & Company MN now owns 637,091 shares of the utilities provider’s stock worth $29,078,000 after purchasing an additional 281,151 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Portland General Electric by 2.6% in the second quarter. Vanguard Group Inc. now owns 7,964,752 shares of the utilities provider’s stock worth $363,909,000 after purchasing an additional 200,707 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
Shares of Portland General Electric (NYSE:POR) opened at $42.78 on Thursday. The firm has a market capitalization of $3,870.00, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 5.04 and a beta of 0.30. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Portland General Electric has a 1-year low of $42.41 and a 1-year high of $50.11.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, December 26th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.18%. Portland General Electric’s dividend payout ratio (DPR) is presently 58.87%.
A number of brokerages have weighed in on POR. Zacks Investment Research downgraded Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Bank of America began coverage on Portland General Electric in a report on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Guggenheim reiterated a “hold” rating and issued a $48.00 target price on shares of Portland General Electric in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $46.33.
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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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