Portland General Electric Company $POR Position Increased by LSV Asset Management

Key Points

• LSV Asset Management boosted its Portland General Electric stake by 34.1% in the fourth quarter, buying 203,400 additional shares and lifting its holding to 799,147 shares worth about $38.35 million.
• Wall Street sentiment remains cautious: analysts have a consensus Hold rating on POR with an average price target of $51.00, even after several firms raised their targets into the low-to-mid $50s.
• Portland General Electric reported weaker-than-expected quarterly results, with EPS of $0.58 versus $0.77 expected and revenue of $879 million versus $953.24 million expected, while also raising its quarterly dividend to $0.5513 per share.

LSV Asset Management raised its holdings in shares of Portland General Electric Company (NYSE:POR - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,147 shares of the utilities provider's stock after purchasing an additional 203,400 shares during the period. LSV Asset Management owned about 0.71% of Portland General Electric worth $38,351,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in POR. Royal Bank of Canada increased its stake in Portland General Electric by 7.4% during the first quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider's stock valued at $7,222,000 after purchasing an additional 11,141 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Portland General Electric by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider's stock valued at $2,763,000 after purchasing an additional 2,717 shares during the last quarter. Millennium Management LLC increased its stake in Portland General Electric by 465.5% during the first quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider's stock valued at $6,741,000 after purchasing an additional 124,410 shares during the last quarter. United Services Automobile Association bought a new stake in Portland General Electric during the first quarter valued at $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Portland General Electric by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider's stock valued at $10,420,000 after purchasing an additional 13,799 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays upped their price target on shares of Portland General Electric from $47.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 17th. UBS Group upped their price target on shares of Portland General Electric from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. BMO Capital Markets restated a "market perform" rating and set a $55.00 price target on shares of Portland General Electric in a research report on Thursday, February 19th. Finally, Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.00.

Insider Activity at Portland General Electric

In related news, Director Robert N. Hoglund acquired 2,000 shares of Portland General Electric stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $48.80 per share, with a total value of $97,600.00. Following the completion of the acquisition, the director directly owned 2,519 shares of the company's stock, valued at $122,927.20. This trade represents a 385.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the completion of the sale, the chief financial officer directly owned 31,897 shares of the company's stock, valued at $1,563,909.91. The trade was a 19.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,219 shares of company stock worth $767,707. 0.52% of the stock is owned by company insiders.

Portland General Electric Stock Down 0.0%

Portland General Electric stock opened at $49.81 on Monday. The company has a 50-day simple moving average of $51.31 and a 200-day simple moving average of $50.49. The firm has a market capitalization of $5.76 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.09 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. Portland General Electric Company has a one year low of $39.54 and a one year high of $54.62.

Portland General Electric (NYSE:POR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 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 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 revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, equities analysts expect that Portland General Electric Company will post 3.39 earnings per share for the current year.

Portland General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be issued a $0.5513 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This is an increase from Portland General Electric's previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a yield of 4.4%. Portland General Electric's dividend payout ratio is currently 93.75%.

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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