Mercer Global Advisors Inc. ADV purchased a new stake in Portland General Electric (NYSE:POR) in the first quarter, HoldingsChannel.com reports. The firm purchased 4,384 shares of the utilities provider’s stock, valued at approximately $227,000.
Several other hedge funds have also recently made changes to their positions in POR. Washington Trust Bank purchased a new position in shares of Portland General Electric in the first quarter valued at $30,000. CWM LLC increased its position in shares of Portland General Electric by 5,680.0% in the fourth quarter. CWM LLC now owns 1,156 shares of the utilities provider’s stock valued at $53,000 after buying an additional 1,136 shares in the last quarter. NumerixS Investment Technologies Inc increased its position in shares of Portland General Electric by 50.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the utilities provider’s stock valued at $96,000 after buying an additional 700 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Portland General Electric in the fourth quarter valued at $181,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Portland General Electric in the fourth quarter valued at $223,000. Institutional investors and hedge funds own 96.76% of the company’s stock.
POR opened at $53.27 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.64 billion, a P/E ratio of 22.48, a P/E/G ratio of 4.34 and a beta of 0.26. Portland General Electric has a 52 week low of $39.60 and a 52 week high of $53.77.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 25th will be paid a dividend of $0.385 per share. The ex-dividend date is Monday, June 24th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.36. Portland General Electric’s dividend payout ratio (DPR) is presently 61.18%.
In related news, VP Larry Neal Bekkedahl sold 2,700 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $49.70, for a total transaction of $134,190.00. Following the sale, the vice president now owns 9,829 shares of the company’s stock, valued at $488,501.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by company insiders.
POR has been the topic of a number of analyst reports. Zacks Investment Research raised Portland General Electric from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, March 22nd. Mizuho reaffirmed a “buy” rating and set a $50.00 price objective on shares of Portland General Electric in a research note on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Portland General Electric currently has a consensus rating of “Hold” and a consensus price target of $47.67.
COPYRIGHT VIOLATION WARNING: “Mercer Global Advisors Inc. ADV Takes Position in Portland General Electric (POR)” was reported by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://dakotafinancialnews.com/2019/05/15/mercer-global-advisors-inc-adv-takes-position-in-portland-general-electric-por.html.
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.
Read More: Momentum Indicator: Relative Strength Index
Want to see what other hedge funds are holding POR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Portland General Electric (NYSE:POR).
Receive News & Ratings for Portland General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portland General Electric and related companies with MarketBeat.com's FREE daily email newsletter.