Deutsche Bank AG trimmed its position in shares of Portland General Electric Company (NYSE:POR – Free Report) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,271 shares of the utilities provider’s stock after selling 31,420 shares during the quarter. Deutsche Bank AG’s holdings in Portland General Electric were worth $7,063,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of POR. Trust Co. of Vermont purchased a new stake in shares of Portland General Electric in the 2nd quarter worth approximately $2,059,000. OneDigital Investment Advisors LLC lifted its stake in Portland General Electric by 3.3% during the 2nd quarter. OneDigital Investment Advisors LLC now owns 7,588 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 241 shares during the period. Global Retirement Partners LLC bought a new position in Portland General Electric during the second quarter valued at approximately $230,000. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Portland General Electric by 25.6% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 5,446 shares of the utilities provider’s stock valued at $282,000 after buying an additional 1,111 shares during the period. Finally, State of Wyoming boosted its position in Portland General Electric by 32.9% in the second quarter. State of Wyoming now owns 1,193 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 295 shares during the last quarter.
Insider Activity
In related news, Director Michael A. Lewis sold 1,537 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the transaction, the director directly owned 15,045 shares in the company, valued at approximately $779,782.35. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.
Portland General Electric Stock Up 0.3%
Portland General Electric (NYSE:POR – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Portland General Electric had a net margin of 7.27% and a return on equity of 7.47%. The business had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $839.75 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Portland General Electric Company will post 3.4 EPS for the current fiscal year.
Portland General Electric Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, September 25th. Portland General Electric’s payout ratio is currently 96.92%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on POR. Weiss Ratings upgraded Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 target price for the company in a research report on Thursday, August 13th. Finally, BMO Capital Markets set a $52.00 price target on Portland General Electric in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.25.
Read Our Latest Research Report on Portland General Electric
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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