Bank of New York Mellon Corp Boosts Holdings in Portland General Electric Company $POR

Bank of New York Mellon Corp boosted its stake in Portland General Electric Company (NYSE:POR - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,415,187 shares of the utilities provider's stock after acquiring an additional 49,115 shares during the period. Bank of New York Mellon Corp owned 1.22% of Portland General Electric worth $74,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC grew its position 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 valued at $222,824,000 after acquiring an additional 4,321,305 shares during the period. Norges Bank bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $56,497,000. AQR Capital Management LLC raised its holdings in shares of Portland General Electric by 42.2% in the 4th 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 period. UBS Group AG lifted its stake in Portland General Electric by 514.3% in the fourth quarter. UBS Group AG now owns 883,162 shares of the utilities provider's stock valued at $42,383,000 after purchasing an additional 739,404 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in 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 purchasing an additional 690,743 shares during the last quarter.

Insider Activity at Portland General Electric

In related news, Director Robert N. Hoglund bought 2,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, for a total transaction of $97,600.00. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on POR shares. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a report on Tuesday, April 21st. Zacks Research lowered Portland General Electric from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Portland General Electric in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their price target on Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of "Reduce" and an average target price of $51.00.

Portland General Electric Stock Down 0.6%

POR opened at $52.20 on Wednesday. Portland General Electric Company has a 12 month low of $39.73 and a 12 month high of $54.62. The company has a market cap of $6.04 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.20 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 company has a 50 day moving average of $50.80 and a 200 day moving average of $51.19.

Portland General Electric (NYSE:POR - Get Free Report) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.19). The business had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The company's revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts expect that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were given a $0.5513 dividend. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. This is a boost from Portland General Electric's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, June 25th. Portland General Electric's dividend payout ratio (DPR) is presently 98.21%.

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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