Wellington Management Group LLP lowered its stake in shares of Portland General Electric Co. (NYSE:POR) by 53.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 836,484 shares of the company’s stock after selling 965,087 shares during the period. Wellington Management Group LLP owned approximately 0.94% of Portland General Electric worth $33,033,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in POR. Voya Investment Management LLC boosted its stake in shares of Portland General Electric by 7.1% in the fourth quarter. Voya Investment Management LLC now owns 401,517 shares of the company’s stock valued at $14,603,000 after buying an additional 26,700 shares in the last quarter. Calvert Investment Management Inc. boosted its position in Portland General Electric by 760.4% in the fourth quarter. Calvert Investment Management Inc. now owns 104,211 shares of the company’s stock valued at $3,790,000 after buying an additional 92,099 shares during the period. Foresters Investment Management Company Inc. boosted its position in Portland General Electric by 0.6% in the fourth quarter. Foresters Investment Management Company Inc. now owns 362,000 shares of the company’s stock valued at $13,166,000 after buying an additional 2,000 shares during the period. Opus Investment Management Inc. boosted its position in Portland General Electric by 13.8% in the fourth quarter. Opus Investment Management Inc. now owns 123,600 shares of the company’s stock valued at $4,495,000 after buying an additional 15,000 shares during the period. Finally, Jennison Associates LLC boosted its position in Portland General Electric by 29.7% in the fourth quarter. Jennison Associates LLC now owns 3,611,014 shares of the company’s stock valued at $131,333,000 after buying an additional 826,236 shares during the period.
Portland General Electric Co. (NYSE:POR) traded down 0.09% during mid-day trading on Thursday, hitting $43.69. The stock had a trading volume of 482,111 shares. Portland General Electric Co. has a 12 month low of $33.33 and a 12 month high of $45.21. The stock has a market cap of $3.88 billion and a price-to-earnings ratio of 20.84. The stock’s 50-day moving average price is $43.46 and its 200-day moving average price is $40.31.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, September 22nd.
Several research analysts recently weighed in on POR shares. Deutsche Bank AG restated a “hold” rating on shares of Portland General Electric in a research report on Monday, April 18th. Zacks Investment Research upgraded shares of Portland General Electric from a “sell” rating to a “hold” rating in a research report on Saturday, July 23rd. Bank of America Corp. reaffirmed a “buy” rating and issued a $44.00 target price on shares of Portland General Electric in a research note on Tuesday, May 24th. Finally, Goldman Sachs Group Inc. lowered Portland General Electric from a “neutral” rating to a “sell” rating and cut their target price for the stock from $39.00 to $38.00 in a research note on Monday, June 6th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Portland General Electric has a consensus rating of “Hold” and an average target price of $39.79.
In related news, VP Maria M. Pope sold 13,500 shares of Portland General Electric stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $41.60, for a total transaction of $561,600.00. Following the sale, the vice president now owns 13,585 shares of the company’s stock, valued at approximately $565,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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.
