Dean Capital Management purchased a new position in Portland General Electric Company (NYSE:POR – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 79,207 shares of the utilities provider’s stock, valued at approximately $3,801,000. Portland General Electric comprises about 1.6% of Dean Capital Management’s holdings, making the stock its 6th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of POR. Royal Bank of Canada boosted its stake in Portland General Electric by 7.4% in the first quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock valued at $7,222,000 after acquiring an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Portland General Electric by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock worth $2,763,000 after purchasing an additional 2,717 shares during the period. Millennium Management LLC raised its position in shares of Portland General Electric by 465.5% during the 1st quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider’s stock worth $6,741,000 after purchasing an additional 124,410 shares during the period. United Services Automobile Association bought a new stake in shares of Portland General Electric in the 1st quarter worth approximately $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Portland General Electric by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider’s stock worth $10,420,000 after purchasing an additional 13,799 shares during the last quarter.
Insider Transactions at Portland General Electric
In related news, Director Robert N. Hoglund acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the purchase, the director directly owned 2,519 shares in the company, valued at $122,927.20. This trade represents a 385.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the sale, the chief financial officer directly owned 31,897 shares of the company’s stock, valued at $1,563,909.91. The trade was a 19.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.52% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Portland General Electric
Portland General Electric Stock Performance
Shares of POR stock opened at $50.14 on Friday. Portland General Electric Company has a 12-month low of $39.54 and a 12-month high of $54.62. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 2.09 and a beta of 0.52. The business has a 50 day simple moving average of $50.38 and a 200 day simple moving average of $50.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95.
Portland General Electric (NYSE:POR – Get Free Report) last posted its earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.19). The business had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities research analysts anticipate that Portland General Electric Company will post 3.39 EPS for the current year.
Portland General Electric Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th will be paid a $0.5513 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. Portland General Electric’s dividend payout ratio (DPR) is currently 93.75%.
Portland General Electric 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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