Allianz Asset Management GmbH Increases Stock Position in Portland General Electric Company $POR

Allianz Asset Management GmbH increased its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 3,222.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 685,133 shares of the utilities provider's stock after purchasing an additional 664,511 shares during the quarter. Allianz Asset Management GmbH owned 0.58% of Portland General Electric worth $35,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Portland General Electric by 4,959.5% during the 2nd quarter. California State Teachers Retirement System now owns 6,896,396 shares of the utilities provider's stock valued at $357,440,000 after acquiring an additional 6,760,091 shares during the period. Clearbridge Investments LLC increased its position in Portland General Electric by 1,342.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider's stock valued at $222,824,000 after acquiring an additional 4,321,305 shares during the last quarter. BlackRock Inc. lifted its holdings in Portland General Electric by 7.4% in the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider's stock valued at $970,240,000 after acquiring an additional 1,292,219 shares during the period. Norges Bank bought a new position in Portland General Electric in the fourth quarter valued at about $56,497,000. Finally, AQR Capital Management LLC boosted its position in Portland General Electric by 42.2% in the fourth quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider's stock worth $170,448,000 after purchasing an additional 1,054,450 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on POR. Weiss Ratings downgraded shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 27th. BMO Capital Markets set a $52.00 price target on Portland General Electric in a research report on Tuesday, August 4th. Zacks Research raised Portland General Electric from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, LADENBURG THALM/SH SH raised Portland General Electric from a "neutral" rating to a "buy" rating and set a $48.50 price objective on the stock in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $51.25.

Insider Buying and Selling

In other Portland General Electric news, Director Michael Lewis sold 1,537 shares of Portland General Electric stock in a transaction on Monday, July 27th. The shares were 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 of the company's stock, valued at $779,782.35. This trade represents a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is owned by company insiders.

Portland General Electric Stock Performance

NYSE:POR opened at $48.79 on Tuesday. The stock has a 50-day moving average price of $50.71 and a 200 day moving average price of $51.14. The stock has a market capitalization of $5.74 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.10 and a beta of 0.51. Portland General Electric Company has a 12-month low of $41.80 and a 12-month high of $54.62. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business had revenue of $814.00 million during the quarter, compared to the consensus estimate of $839.75 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Friday, September 25th will be issued a $0.5513 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.5%. Portland General Electric's dividend payout ratio (DPR) is 96.92%.

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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