Principal Financial Group Inc. Has $21.39 Million Stock Position in Portland General Electric Company $POR

Key Points

• Principal Financial Group increased its Portland General Electric stake by 6.9% in the second quarter, bringing its holdings to 412,780 shares valued at approximately $21.39 million.
• Portland General Electric’s latest quarterly results slightly missed expectations, with EPS of $0.64 versus $0.65 expected and revenue of $814 million versus $839.75 million forecast.
• Analysts maintain a consensus “Hold” rating with an average $51.25 price target. The company declared a quarterly dividend of $0.5513, equivalent to a 4.3% annualized yield.

Principal Financial Group Inc. raised its position in Portland General Electric Company (NYSE:POR - Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,780 shares of the utilities provider's stock after purchasing an additional 26,754 shares during the quarter. Principal Financial Group Inc. owned approximately 0.36% of Portland General Electric worth $21,394,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of POR. Private Trust Co. NA lifted its holdings 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 valued at $26,000 after buying an additional 239 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Portland General Electric in the third quarter worth approximately $27,000. Rothschild Investment LLC raised its position in Portland General Electric by 112.9% during the fourth quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 324 shares in the last quarter. SHP Wealth Management bought a new position in Portland General Electric during the fourth quarter valued at approximately $34,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Portland General Electric by 272.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 526 shares during the last quarter.

Insider Activity

In other news, Director Michael A. Lewis sold 1,537 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $51.83, for a total transaction of $79,662.71. Following the transaction, the director owned 15,045 shares in the company, valued at approximately $779,782.35. The trade was a 9.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on POR shares. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. BMO Capital Markets set a $52.00 price objective on shares of Portland General Electric in a report on Tuesday, August 4th. Weiss Ratings raised shares of Portland General Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Finally, Zacks Research upgraded Portland General Electric from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $51.25.

Portland General Electric Stock Performance

POR opened at $50.74 on Friday. The firm has a market capitalization of $5.97 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. The stock's 50 day moving average price is $51.08 and its two-hundred day moving average price is $51.32. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. Portland General Electric Company has a 12-month low of $41.80 and a 12-month high of $54.62.

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

Portland General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a $0.5513 dividend. 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 currently 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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