First Trust Advisors LP lessened its stake in Portland General Electric Company (NYSE:POR) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 497,848 shares of the utilities provider’s stock after selling 28,724 shares during the quarter. First Trust Advisors LP owned about 0.56% of Portland General Electric worth $22,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in POR. BlackRock Inc. raised its position in shares of Portland General Electric by 9,433.7% in the 1st quarter. BlackRock Inc. now owns 6,083,042 shares of the utilities provider’s stock valued at $270,207,000 after purchasing an additional 6,019,236 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of Portland General Electric in the 3rd quarter valued at approximately $13,286,000. Vanguard Group Inc. raised its position in shares of Portland General Electric by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 7,964,752 shares of the utilities provider’s stock valued at $363,909,000 after purchasing an additional 200,707 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Portland General Electric during the 2nd quarter valued at approximately $8,779,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Portland General Electric by 25.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 766,000 shares of the utilities provider’s stock valued at $34,999,000 after acquiring an additional 154,600 shares in the last quarter. Hedge funds and other institutional investors own 93.45% of the company’s stock.

Portland General Electric (NYSE:POR) last released its earnings results on Friday, October 27th. The utilities provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. The company had revenue of $515.00 million during the quarter, compared to analysts’ expectations of $497.85 million. Portland General Electric had a return on equity of 8.65% and a net margin of 10.21%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, December 26th will be paid a $0.34 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.85%. Portland General Electric’s dividend payout ratio (DPR) is currently 59.13%.

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Several research analysts have recently issued reports on the company. Zacks Investment Research raised Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, October 4th. BidaskClub raised Portland General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. KeyCorp reissued a “hold” rating on shares of Portland General Electric in a research note on Friday, September 1st. J P Morgan Chase & Co increased their price target on Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Bank of America Corporation assumed coverage on Portland General Electric in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $45.00 price target for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.00.

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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