Today, First Trust Advisors LP decides to keep it stake in Portland General Electric Co. (POR) to the level of $15,979,000

Today, First Trust Advisors LP decides to keep it stake in Portland General Electric Co. (POR) to the level of $15,979,000

First Trust Advisors LP decreased its stake in shares of Portland General Electric Co. (NYSE:POR) by 10.6% during the third quarter, Holdings Channel reports. The fund owned 375,183 shares of the company’s stock after selling 44,398 shares during the period. First Trust Advisors LP’s holdings in Portland General Electric were worth $15,979,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in Portland General Electric by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 101,954 shares of the company’s stock valued at $4,342,000 after buying an additional 517 shares in the last quarter. Nordea Investment Management AB boosted its position in Portland General Electric by 7.4% in the third quarter. Nordea Investment Management AB now owns 109,900 shares of the company’s stock valued at $4,681,000 after buying an additional 7,600 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Portland General Electric during the third quarter valued at about $215,000. State of Wisconsin Investment Board boosted its position in Portland General Electric by 86.1% in the third quarter. State of Wisconsin Investment Board now owns 251,200 shares of the company’s stock valued at $10,699,000 after buying an additional 116,200 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Portland General Electric during the third quarter valued at about $9,729,000. Institutional investors and hedge funds own 94.18% of the company’s stock.

Portland General Electric Co. (NYSE:POR) traded up 2.12% during trading on Monday, reaching $43.42. 217,190 shares of the company’s stock were exchanged. Portland General Electric Co. has a 52 week low of $35.04 and a 52 week high of $45.21. The stock has a 50-day moving average price of $41.94 and a 200 day moving average price of $42.49. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 21.12 and a beta of 0.31.

Portland General Electric (NYSE:POR) last posted its earnings results on Friday, October 28th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.04. Portland General Electric had a net margin of 9.64% and a return on equity of 7.99%. The firm earned $484 million during the quarter, compared to analyst estimates of $473 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts forecast that Portland General Electric Co. will post $2.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, December 27th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, December 22nd. Portland General Electric’s dividend payout ratio is currently 62.44%.

Several equities analysts recently issued reports on POR shares. Zacks Investment Research cut shares of Portland General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Guggenheim started coverage on shares of Portland General Electric in a research note on Thursday, November 3rd. They issued a “neutral” rating for the company. Williams Capital boosted their target price on shares of Portland General Electric from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, Bank of America Corp. cut shares of Portland General Electric from a “neutral” rating to an “underperform” rating and set a $39.00 target price for the company. in a research note on Tuesday, November 22nd. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.08.

About Portland General Electric

Portland General Electric Company (PGE) is an electric utility company. The Company is engaged in the generation, wholesale purchase, transmission, distribution and retail sale of electricity in the state of Oregon. The Company also sells electricity and natural gas in the wholesale market to utilities, brokers and power marketers.

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