OLD Republic International Corp Buys 67,500 Shares of Portland General Electric Company $POR

Key Points

• OLD Republic International Corp increased its stake in Portland General Electric by 10.9% in the fourth quarter, buying 67,500 additional shares and bringing its holdings to 687,500 shares worth about $33 million.
• Portland General Electric reported weaker-than-expected quarterly results, with EPS of $0.58 versus the $0.77 estimate and revenue of $879 million versus the $953.24 million forecast.
• The company raised its quarterly dividend to $0.5513 per share, implying a 4.4% annualized yield, while analysts currently rate the stock a consensus Hold with an average price target of $51.00.

OLD Republic International Corp lifted its stake in shares of Portland General Electric Company (NYSE:POR - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 687,500 shares of the utilities provider's stock after purchasing an additional 67,500 shares during the period. OLD Republic International Corp owned 0.61% of Portland General Electric worth $32,993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric during the 4th quarter worth approximately $25,000. Private Trust Co. NA raised its stake in shares of Portland General Electric by 76.4% during the 4th quarter. Private Trust Co. NA now owns 552 shares of the utilities provider's stock worth $26,000 after purchasing an additional 239 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Portland General Electric during the 3rd quarter worth approximately $27,000. Johnson Financial Group Inc. bought a new stake in Portland General Electric in the 3rd quarter valued at $27,000. Finally, Clearstead Advisors LLC raised its stake in Portland General Electric by 206.8% in the 3rd quarter. Clearstead Advisors LLC now owns 856 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 577 shares during the period.

Portland General Electric Stock Up 0.5%

POR stock opened at $49.81 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.95. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.09 and a beta of 0.54. The business's fifty day moving average price is $51.31 and its two-hundred day moving average price is $50.47. Portland General Electric Company has a fifty-two week low of $39.54 and a fifty-two week high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.58 earnings per share 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 the consensus estimate of $953.24 million. Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The firm's quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, equities analysts anticipate that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.5513 per share. This represents a $2.21 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, June 25th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. Portland General Electric's dividend payout ratio (DPR) is 93.75%.

Insider Transactions at Portland General Electric

In other Portland General Electric news, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at $590,221.09. This trade represents a 18.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Benjamin Felton sold 4,969 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $53.56, for a total value of $266,139.64. Following the sale, the executive vice president directly owned 41,081 shares in the company, valued at approximately $2,200,298.36. This trade represents a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,219 shares of company stock worth $767,707 over the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

POR has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Portland General Electric in a research note on Friday, May 15th. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price target on shares of Portland General Electric in a research note on Thursday, February 19th. BTIG Research restated a "buy" rating and issued a $58.00 price target on shares of Portland General Electric in a research note on Friday, January 30th. Wells Fargo & Company set a $51.00 price target on Portland General Electric in a research note on Tuesday, April 21st. Finally, Barclays increased their price target on Portland General Electric from $47.00 to $53.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Portland General Electric presently has an average rating of "Hold" and an average price target of $51.00.

About Portland General Electric

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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