Cerebellum GP LLC raised its position in Portland General Electric (NYSE:POR) by 25.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,114 shares of the utilities provider’s stock after purchasing an additional 1,625 shares during the period. Cerebellum GP LLC’s holdings in Portland General Electric were worth $457,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Portland General Electric during the second quarter valued at $27,000. Assetmark Inc. acquired a new stake in shares of Portland General Electric during the second quarter valued at $42,000. IMA Wealth Inc. acquired a new stake in shares of Portland General Electric during the second quarter valued at $43,000. HM Payson & Co. acquired a new stake in shares of Portland General Electric during the second quarter valued at $54,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Portland General Electric during the second quarter valued at $57,000. 93.65% of the stock is currently owned by institutional investors.
Shares of NYSE:POR opened at $56.39 on Friday. The stock’s 50-day moving average price is $56.40 and its two-hundred day moving average price is $54.35. The company has a current ratio of 1.00, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Portland General Electric has a 12-month low of $43.73 and a 12-month high of $58.43. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 5.08 and a beta of 0.15.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 25th will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, September 24th. Portland General Electric’s payout ratio is 64.98%.
In other Portland General Electric news, VP Kristin Anne Stathis sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.87, for a total value of $231,480.00. Following the sale, the vice president now directly owns 8,359 shares of the company’s stock, valued at approximately $483,735.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.
POR has been the topic of a number of analyst reports. Mizuho raised Portland General Electric from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $59.00 in a research note on Monday, October 7th. Zacks Investment Research raised Portland General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Sidoti initiated coverage on Portland General Electric in a research note on Friday, September 27th. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, ValuEngine lowered Portland General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.00.
Portland General Electric Profile
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates seven thermal plants; seven hydroelectric plants; and two wind farms. As of December 31, 2018, it owned an electric transmission system consisting of 1,256 circuit miles, including 287 circuit miles of 500 kilovolt line, 410 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.
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