Trust Co. of Vermont Buys Shares of 39,717 Portland General Electric Company $POR

Key Points

• Trust Co. of Vermont acquired 39,717 shares of Portland General Electric in the second quarter, valued at approximately $2.06 million. Other institutions, including Millennium Management and UBS Asset Management, also increased their positions.
• Analysts maintain a generally cautious outlook, with three Buy ratings and seven Hold ratings. The consensus price target is $51.25, near the stock’s reported trading price of $50.83.
• Portland General Electric reported quarterly EPS of $0.64, slightly below the $0.65 estimate, while revenue of $814 million also missed forecasts. The company announced a quarterly dividend of $0.5513, representing a 4.3% annualized yield.

Trust Co. of Vermont purchased a new stake in Portland General Electric Company (NYSE:POR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 39,717 shares of the utilities provider's stock, valued at approximately $2,059,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position 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 worth $7,222,000 after buying an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Portland General Electric by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider's stock valued at $2,763,000 after acquiring an additional 2,717 shares during the period. Millennium Management LLC lifted its position in shares of Portland General Electric by 465.5% during the 1st quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider's stock valued at $6,741,000 after acquiring an additional 124,410 shares during the period. United Services Automobile Association purchased a new stake in shares of Portland General Electric during the 1st quarter worth approximately $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Portland General Electric by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider's stock worth $10,420,000 after acquiring an additional 13,799 shares in the last quarter.

Analysts Set New Price Targets

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

Portland General Electric Price Performance

Shares of NYSE:POR opened at $50.83 on Tuesday. The business's fifty day moving average price is $51.10 and its two-hundred day moving average price is $51.33. The stock has a market cap of $5.98 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.18 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. Portland General Electric Company has a one year low of $41.80 and a one year high of $54.62.

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

Portland General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be issued a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, September 25th. Portland General Electric's dividend payout ratio is 96.92%.

Insider Activity

In other news, Director Michael A. Lewis sold 1,537 shares of Portland General Electric 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 completion of the sale, the director directly owned 15,045 shares in the company, valued at $779,782.35. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

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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