Portland General Electric (NYSE:POR) Shares Sold by Phocas Financial Corp.

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Phocas Financial Corp. cut its holdings in Portland General Electric (NYSE:POR) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,190 shares of the utilities provider’s stock after selling 1,405 shares during the quarter. Phocas Financial Corp. owned about 0.16% of Portland General Electric worth $6,251,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of POR. Adviser Investments LLC purchased a new stake in shares of Portland General Electric in the first quarter valued at about $107,000. Hartford Investment Management Co. purchased a new stake in Portland General Electric during the second quarter worth about $218,000. Covalis Capital LLP purchased a new stake in Portland General Electric during the second quarter worth about $237,000. Signition LP purchased a new stake in Portland General Electric during the second quarter worth about $285,000. Finally, Bank of Hawaii purchased a new stake in Portland General Electric during the second quarter worth about $296,000. Institutional investors own 92.92% of the company’s stock.

In related news, VP William David Robertson sold 4,380 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $45.78, for a total transaction of $200,516.40. Following the completion of the transaction, the vice president now owns 16,024 shares of the company’s stock, valued at $733,578.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Portland General Electric from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Friday. Mizuho reaffirmed a “buy” rating and issued a $45.50 price target on shares of Portland General Electric in a report on Friday, July 20th. ValuEngine raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. UBS Group upped their price target on shares of Portland General Electric from $40.00 to $42.00 and gave the company a “$45.10” rating in a report on Thursday, July 19th. Finally, Barclays initiated coverage on shares of Portland General Electric in a report on Tuesday, July 10th. They issued an “underweight” rating and a $42.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Portland General Electric currently has a consensus rating of “Hold” and an average price target of $43.83.

Shares of NYSE:POR traded down $0.43 during trading on Friday, reaching $45.07. The stock had a trading volume of 822,747 shares, compared to its average volume of 674,609. Portland General Electric has a fifty-two week low of $39.02 and a fifty-two week high of $50.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.60. The firm has a market cap of $4.07 billion, a PE ratio of 19.68, a P/E/G ratio of 6.22 and a beta of 0.17.

Portland General Electric (NYSE:POR) last issued its quarterly earnings results on Friday, July 27th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. Portland General Electric had a net margin of 9.74% and a return on equity of 8.59%. The firm had revenue of $449.00 million during the quarter, compared to analyst estimates of $460.72 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Portland General Electric’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that Portland General Electric will post 2.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 25th will be given a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, September 24th. Portland General Electric’s dividend payout ratio (DPR) is 63.32%.

Portland General Electric Company 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, 2017, it owned an electric transmission system consisting of 1,250 circuit miles, including 287 circuit miles of 500 kilovolt line, 402 circuit miles of 230 kilovolt line, and 561 miles of 115 kilovolt line.

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

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