American Century Companies Inc. lifted its holdings in Portland General Electric (NYSE:POR) by 388.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,141 shares of the utilities provider’s stock after buying an additional 436,771 shares during the quarter. American Century Companies Inc. owned 0.62% of Portland General Electric worth $25,030,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of POR. Cerebellum GP LLC purchased a new stake in shares of Portland General Electric in the fourth quarter valued at approximately $122,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Portland General Electric during the second quarter worth $141,000. Public Employees Retirement Association of Colorado purchased a new stake in Portland General Electric during the fourth quarter worth $161,000. Mark Sheptoff Financial Planning LLC boosted its position in Portland General Electric by 121.2% during the third quarter. Mark Sheptoff Financial Planning LLC now owns 3,650 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Portland General Electric during the third quarter worth $201,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.
A number of research firms have commented on POR. Zacks Investment Research downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. JPMorgan Chase & Co. boosted their target price on Portland General Electric from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Bank of America began coverage on Portland General Electric in a research report on Tuesday, October 24th. They set a “neutral” rating and a $45.00 target price on the stock. Guggenheim reiterated a “hold” rating and set a $48.00 target price on shares of Portland General Electric in a research report on Wednesday, January 3rd. Finally, UBS Group began coverage on Portland General Electric in a research report on Friday, February 2nd. They set a “sell” rating and a $40.00 target price on the stock. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.25.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, March 26th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.41%. Portland General Electric’s dividend payout ratio (DPR) is 58.87%.
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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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