Moody Aldrich Partners LLC Purchases 16,988 Shares of Portland General Electric Company $POR

Moody Aldrich Partners LLC lifted its position in shares of Portland General Electric Company (NYSE:POR) by 14.4% during the third quarter, HoldingsChannel reports. The firm owned 135,317 shares of the utilities provider’s stock after purchasing an additional 16,988 shares during the quarter. Portland General Electric comprises about 1.2% of Moody Aldrich Partners LLC’s holdings, making the stock its 21st largest holding. Moody Aldrich Partners LLC’s holdings in Portland General Electric were worth $6,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Portland General Electric by 7.4% during the 2nd quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock valued at $970,240,000 after purchasing an additional 1,292,219 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Portland General Electric by 3,222.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 685,133 shares of the utilities provider’s stock worth $35,510,000 after buying an additional 664,511 shares in the last quarter. Bank of America Corp DE boosted its position in Portland General Electric by 60.6% in the 1st quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock valued at $87,622,000 after buying an additional 626,223 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Portland General Electric by 31.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider’s stock valued at $120,750,000 after buying an additional 553,570 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Portland General Electric in the 1st quarter valued at about $26,322,000.

Portland General Electric Price Performance

Shares of POR stock opened at $44.22 on Thursday. The firm has a market cap of $5.20 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.69 and a beta of 0.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric Company has a 1-year low of $43.26 and a 1-year high of $54.62. The firm has a fifty day moving average of $46.71 and a two-hundred day moving average of $50.04.

Portland General Electric (NYSE:POR) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $814.00 million during the quarter, compared to the consensus estimate of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%. Portland General Electric’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. As a group, research analysts anticipate that Portland General Electric Company will post 3.32 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 22nd will be paid a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, December 22nd. Portland General Electric’s dividend payout ratio (DPR) is 96.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on POR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Portland General Electric in a research report on Thursday, September 24th. Weiss Ratings downgraded Portland General Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. lowered their price objective on Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. Zacks Research upgraded Portland General Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, BTIG Research set a $57.00 target price on Portland General Electric in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Portland General Electric currently has an average rating of “Hold” and a consensus target price of $50.50.

About Portland General Electric

Portland General Electric Company (NYSE:POR) is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers. The company also offers energy-management programs, renewable energy options and other services designed to support energy efficiency and electrification.

PGE serves communities throughout the state of Oregon, including the Portland metropolitan area and the Willamette Valley. Its operations include a diverse portfolio of power generation resources, transmission and distribution infrastructure, and programs supporting the integration of renewable energy and electric vehicles.

The company traces its history to the development of electric service in Oregon in the late 19th century.