Michael Lewis Sells 1,537 Shares of Portland General Electric (NYSE:POR) Stock

Key Points

• Director Michael Lewis sold 1,537 Portland General Electric shares at an average price of $51.83, receiving $79,662.71. His remaining stake fell 9.27% to 15,045 shares.
• POR shares traded near $51.21, while the utility’s latest quarterly results missed expectations: EPS was $0.58 versus $0.77 expected, and revenue declined 5.3% year over year to $879 million.
• Portland General Electric declared a quarterly dividend of $0.5513 per share, equivalent to a 4.3% yield. Analysts remain cautious, with an average “Reduce” rating and a $50.90 price target.

Portland General Electric Company (NYSE:POR - Get Free Report) Director Michael Lewis sold 1,537 shares of the company's stock in a transaction on 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 owned 15,045 shares of the company's stock, valued at approximately $779,782.35. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Portland General Electric Trading Down 0.0%

POR stock traded down $0.02 during midday trading on Tuesday, hitting $51.21. 1,417,863 shares of the company's stock were exchanged, compared to its average volume of 1,264,654. Portland General Electric Company has a one year low of $40.81 and a one year high of $54.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. The company has a market cap of $5.93 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.52. The stock's fifty day moving average price is $51.13 and its 200-day moving average price is $51.30.

Portland General Electric (NYSE:POR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.19). Portland General Electric had a return on equity of 7.57% and a net margin of 7.12%.The business had revenue of $879.00 million during the quarter, compared to the consensus estimate of $953.24 million. During the same quarter last year, the company earned $0.91 earnings per share. The firm's revenue was down 5.3% compared to the same quarter last year. Research analysts predict that Portland General Electric Company will post 3.39 earnings per share for the current fiscal year.

Portland General Electric Announces Dividend

The business 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 dividend of $0.5513 per share. 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 98.21%.

Hedge Funds Weigh In On Portland General Electric

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Portland General Electric during the fourth quarter valued at approximately $25,000. Private Trust Co. NA grew its stake in Portland General Electric by 76.4% in the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 239 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Portland General Electric during the 3rd quarter worth approximately $27,000. Rothschild Investment LLC increased its position in shares of Portland General Electric by 112.9% during the 4th quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider's stock worth $29,000 after purchasing an additional 324 shares during the last quarter. Finally, SHP Wealth Management bought a new stake in shares of Portland General Electric during the 4th quarter worth approximately $34,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on POR shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Portland General Electric in a report on Friday, May 15th. JPMorgan Chase & Co. boosted 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 report on Monday, April 20th. Wells Fargo & Company set a $51.00 target price on shares of Portland General Electric in a research note on Tuesday, April 21st. Zacks Research cut Portland General Electric from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. Finally, BMO Capital Markets dropped their price target on Portland General Electric from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $50.90.

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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