Oppenheimer Asset Management Inc. Has $645,000 Stake in Portland General Electric Company (POR)
Oppenheimer Asset Management Inc. grew its position in Portland General Electric Company (NYSE:POR) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,123 shares of the utilities provider’s stock after purchasing an additional 168 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Portland General Electric were worth $645,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of Portland General Electric by 1.2% in the second quarter. Swiss National Bank now owns 148,800 shares of the utilities provider’s stock valued at $6,799,000 after purchasing an additional 1,700 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Portland General Electric in the second quarter valued at about $8,779,000. Cim Investment Mangement Inc. purchased a new stake in shares of Portland General Electric in the second quarter valued at about $266,000. Principal Financial Group Inc. raised its holdings in shares of Portland General Electric by 14.8% in the second quarter. Principal Financial Group Inc. now owns 624,673 shares of the utilities provider’s stock valued at $28,542,000 after purchasing an additional 80,453 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Portland General Electric by 52.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,906 shares of the utilities provider’s stock valued at $178,000 after purchasing an additional 1,352 shares during the last quarter. Institutional investors own 93.19% of the company’s stock.
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Shares of Portland General Electric Company (NYSE:POR) opened at 46.88 on Thursday. The company’s 50-day moving average is $46.44 and its 200-day moving average is $45.81. The stock has a market cap of $4.18 billion, a P/E ratio of 20.93 and a beta of 0.29. Portland General Electric Company has a 12-month low of $40.28 and a 12-month high of $48.22.
Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). The firm had revenue of $449.00 million during the quarter, compared to the consensus estimate of $465.70 million. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that Portland General Electric Company will post $2.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 25th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, September 22nd. Portland General Electric’s payout ratio is 60.71%.
Several analysts have recently commented on POR shares. Zacks Investment Research downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Williams Capital downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating and lowered their target price for the company from $44.00 to $41.00 in a report on Monday, July 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Portland General Electric in a report on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.00.
Portland General Electric 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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