NFJ Investment Group LLC lessened its holdings in shares of Portland General Electric Company (NYSE:POR – Free Report) by 24.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,680 shares of the utilities provider’s stock after selling 14,471 shares during the quarter. NFJ Investment Group LLC’s holdings in Portland General Electric were worth $2,096,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in POR. Clearbridge Investments LLC lifted its stake in shares of Portland General Electric by 1,342.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock worth $222,824,000 after purchasing an additional 4,321,305 shares during the period. Norges Bank purchased a new position in shares of Portland General Electric in the 4th quarter worth $56,497,000. UBS Group AG raised its position in shares of Portland General Electric by 514.3% in the 4th quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock worth $42,383,000 after buying an additional 739,404 shares during the period. Millennium Management LLC raised its position in shares of Portland General Electric by 99.4% in the 3rd quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider’s stock worth $60,974,000 after buying an additional 690,743 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Portland General Electric by 34.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,497,281 shares of the utilities provider’s stock worth $109,381,000 after buying an additional 634,890 shares during the period.
Portland General Electric Stock Down 0.1%
Shares of NYSE POR opened at $50.65 on Monday. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $54.62. The company has a market cap of $5.86 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.13 and a beta of 0.52. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $50.64 and a 200 day moving average price of $50.60.
Portland General Electric Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be issued a $0.5513 dividend. The ex-dividend date is Thursday, June 25th. This represents a $2.21 annualized dividend and a yield of 4.4%. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s payout ratio is currently 98.21%.
Analyst Upgrades and Downgrades
POR has been the topic of several research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Portland General Electric in a research report on Thursday, February 19th. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. JPMorgan Chase & Co. increased their target price on Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Barclays increased their target price on Portland General Electric from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.00.
Read Our Latest Analysis on Portland General Electric
Insider Activity at Portland General Electric
In related news, Director Robert N. Hoglund purchased 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the acquisition, the director owned 2,519 shares in the company, valued at approximately $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value 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. This represents a 18.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is owned by insiders.
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.
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