Truist Financial Corp Has $2.44 Million Stock Position in Portland General Electric Company $POR

Key Points

• Truist Financial cut its Portland General Electric stake by 45.2% in Q4, leaving it with 50,875 shares valued at about $2.44 million.
• Portland General Electric reported weaker-than-expected quarterly results, posting EPS of $0.58 versus the $0.77 estimate and revenue of $879 million versus the expected $953.24 million.
• The company raised its quarterly dividend to $0.5513 per share, implying an annualized yield of about 4.6%, while Wall Street currently has an overall Hold rating and a consensus price target of $51.00.

Truist Financial Corp reduced its position in shares of Portland General Electric Company (NYSE:POR - Free Report) by 45.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,875 shares of the utilities provider's stock after selling 42,007 shares during the period. Truist Financial Corp's holdings in Portland General Electric were worth $2,441,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Channing Capital Management LLC increased its holdings in shares of Portland General Electric by 39.1% during the third quarter. Channing Capital Management LLC now owns 1,509,269 shares of the utilities provider's stock worth $66,408,000 after buying an additional 424,622 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Portland General Electric during the fourth quarter worth $3,662,000. Nordea Investment Management AB increased its holdings in shares of Portland General Electric by 25.4% during the third quarter. Nordea Investment Management AB now owns 1,605,974 shares of the utilities provider's stock worth $70,518,000 after buying an additional 325,787 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Portland General Electric by 228.9% during the fourth quarter. CWA Asset Management Group LLC now owns 68,462 shares of the utilities provider's stock worth $3,285,000 after buying an additional 47,644 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Portland General Electric by 9.7% during the third quarter. LSV Asset Management now owns 595,747 shares of the utilities provider's stock worth $26,213,000 after buying an additional 52,700 shares in the last quarter.

Portland General Electric Stock Performance

NYSE POR opened at $48.41 on Wednesday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.02 and a beta of 0.54. Portland General Electric Company has a twelve month low of $39.54 and a twelve month high of $54.62. The stock has a fifty day simple moving average of $52.02 and a 200 day simple moving average of $50.34. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19.

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 analysts' consensus estimates of $0.77 by ($0.19). The company had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The business's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. 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 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 is Thursday, June 25th. This is a positive change from Portland General Electric's previous quarterly dividend of $0.53. This represents a $2.21 dividend on an annualized basis and a yield of 4.6%. Portland General Electric's dividend payout ratio (DPR) is currently 93.75%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 report on Monday, April 20th. Weiss Ratings downgraded shares of Portland General Electric from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, February 17th. Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a report on Tuesday, April 21st. 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 report on Tuesday, February 17th. Finally, 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 report on Thursday, February 19th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $51.00.

Insider Buying and Selling

In related news, Director Robert N. Hoglund acquired 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the acquisition, the director directly owned 2,519 shares of the company's stock, valued at approximately $122,927.20. This trade represents a 385.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Benjamin Felton sold 4,969 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $53.56, for a total transaction of $266,139.64. Following the sale, the executive vice president directly owned 41,081 shares in the company, valued at $2,200,298.36. This trade represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,219 shares of company stock valued at $767,707. Company insiders own 0.52% of the company's stock.

Portland General Electric 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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