Portland General Electric Company $POR Shares Acquired by Magellan Asset Management Ltd

Magellan Asset Management Ltd lifted its holdings in shares of Portland General Electric Company (NYSE:POR) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,916 shares of the utilities provider’s stock after purchasing an additional 20,110 shares during the period. Magellan Asset Management Ltd owned about 0.09% of Portland General Electric worth $5,431,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of POR. V Square Quantitative Management LLC purchased a new stake in Portland General Electric in the 4th quarter valued at approximately $25,000. Private Trust Co. NA increased its position in Portland General Electric by 76.4% during the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Portland General Electric in the third quarter worth $27,000. Rothschild Investment LLC raised its holdings in shares of Portland General Electric by 112.9% in the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 324 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in shares of Portland General Electric in the fourth quarter valued at $34,000.

Analysts Set New Price Targets

A number of analysts recently commented on POR shares. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research note on Tuesday, April 21st. Zacks Research lowered shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $51.00.

Insider Buying and Selling at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.03, for a total value of $367,725.00. Following the completion of the sale, the chief financial officer directly owned 31,897 shares in the company, valued at approximately $1,563,909.91. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the completion of the sale, the vice president owned 12,127 shares of the company’s stock, valued at approximately $590,221.09. The trade was a 18.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is owned by company insiders.

Portland General Electric Trading Down 0.6%

Shares of Portland General Electric stock opened at $52.20 on Wednesday. Portland General Electric Company has a fifty-two week low of $39.73 and a fifty-two week high of $54.62. The business’s fifty day moving average is $50.80 and its two-hundred day moving average is $51.19. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The firm has a market cap of $6.04 billion, a PE ratio of 23.30, a P/E/G ratio of 2.20 and a beta of 0.52.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The business had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. Portland General Electric’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Analysts anticipate that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th were issued a $0.5513 dividend. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, June 25th. This represents a $2.21 annualized dividend and a yield of 4.2%. Portland General Electric’s dividend payout ratio (DPR) is presently 98.21%.

Portland General Electric Company Profile

Portland General Electric (NYSE:POR) is an investor-owned electric utility headquartered in Tigard, Oregon, with roots tracing back to the late 19th century. The company generates, transmits and distributes electricity to residential, commercial and industrial customers across a broad territory in Oregon, primarily encompassing the Portland metropolitan area and surrounding regions.

As one of Oregon’s largest electric utilities, Portland General Electric operates a diverse portfolio of generation assets, including hydroelectric facilities, natural gas–fired plants and renewable energy sources.