Portland General Electric Company (NYSE:POR - Get Free Report) Director Michael Lewis sold 1,537 shares of the business's stock in a transaction 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 sale, the director owned 15,045 shares in the company, valued at approximately $779,782.35. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Portland General Electric Stock Down 0.0%
Portland General Electric stock opened at $51.21 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.15 and a beta of 0.52. Portland General Electric Company has a fifty-two week low of $40.81 and a fifty-two week high of $54.62. The stock's fifty day moving average is $51.17 and its two-hundred day moving average is $51.32.
Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The company's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. Analysts predict that Portland General Electric Company will post 3.39 EPS for the current fiscal year.
Portland General Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 yield of 4.3%. The ex-dividend date is Friday, September 25th. Portland General Electric's dividend payout ratio (DPR) is 98.21%.
Analysts Set New Price Targets
Several brokerages have issued reports on POR. BMO Capital Markets reduced their price target on shares of Portland General Electric from $55.00 to $54.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price objective 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. Zacks Research downgraded Portland General Electric from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Portland General Electric in a research report on Friday, May 15th. Finally, Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $50.90.
Read Our Latest Analysis on POR
Institutional Trading of Portland General Electric
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in Portland General Electric by 1,342.7% in the 4th quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider's stock valued at $222,824,000 after purchasing an additional 4,321,305 shares during the last quarter. Norges Bank acquired a new stake in shares of Portland General Electric during the 4th quarter worth about $56,497,000. AQR Capital Management LLC grew its holdings in shares of Portland General Electric by 42.2% during the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider's stock worth $170,448,000 after buying an additional 1,054,450 shares in the last quarter. UBS Group AG grew its holdings in shares of Portland General Electric by 514.3% during the fourth 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 in the last quarter. Finally, Millennium Management LLC raised its position in shares of Portland General Electric by 99.4% in the third quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider's stock valued at $60,974,000 after buying an additional 690,743 shares during the last quarter.
About Portland General Electric
(
Get Free Report)
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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