Portland General Electric Company (POR) Position Lowered by Denver Investment Advisors LLC

Denver Investment Advisors LLC reduced its position in shares of Portland General Electric Company (NYSE:POR) by 36.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 260,721 shares of the utilities provider’s stock after selling 147,799 shares during the period. Denver Investment Advisors LLC owned about 0.29% of Portland General Electric worth $11,912,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in POR. Vanguard Group Inc. increased its stake in shares of Portland General Electric by 3.4% in the first quarter. Vanguard Group Inc. now owns 7,764,045 shares of the utilities provider’s stock worth $344,879,000 after buying an additional 256,914 shares in the last quarter. BlackRock Inc. increased its stake in shares of Portland General Electric by 9,433.7% in the first quarter. BlackRock Inc. now owns 6,083,042 shares of the utilities provider’s stock worth $270,207,000 after buying an additional 6,019,236 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Portland General Electric by 5.2% in the first quarter. JPMorgan Chase & Co. now owns 4,662,302 shares of the utilities provider’s stock worth $207,099,000 after buying an additional 230,831 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Portland General Electric by 8.4% in the first quarter. Alliancebernstein L.P. now owns 3,182,938 shares of the utilities provider’s stock worth $141,386,000 after buying an additional 247,232 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Portland General Electric by 2.9% in the second quarter. Boston Partners now owns 3,178,857 shares of the utilities provider’s stock worth $145,241,000 after buying an additional 90,821 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Portland General Electric Company (NYSE:POR) opened at 46.47 on Wednesday. The firm has a market cap of $4.14 billion, a PE ratio of 20.75 and a beta of 0.29. Portland General Electric Company has a one year low of $40.28 and a one year high of $48.06. The company has a 50-day moving average price of $45.34 and a 200-day moving average price of $45.31.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.08. Portland General Electric had a return on equity of 8.48% and a net margin of 10.06%. The company had revenue of $449 million during the quarter, compared to analyst estimates of $465.70 million. During the same period last year, the company posted $0.42 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Portland General Electric Company will post $2.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders 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 dividend yield of 2.93%. The ex-dividend date is Friday, September 22nd. Portland General Electric’s dividend payout ratio (DPR) is presently 60.71%.

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A number of equities research analysts have recently commented on POR shares. Zacks Investment Research downgraded Portland General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Williams Capital downgraded Portland General Electric from a “hold” rating to a “sell” rating and lowered their price objective for the company from $44.00 to $41.00 in a research report on Monday, July 24th. UBS AG downgraded Portland General Electric from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. BidaskClub downgraded Portland General Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $44.00 price objective (up previously from $41.00) on shares of Portland General Electric in a research report on Sunday, April 23rd. Five equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Portland General Electric currently has a consensus rating of “Sell” and a consensus price target of $42.00.

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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Institutional Ownership by Quarter for Portland General Electric (NYSE:POR)

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