Massachusetts Financial Services Co. MA Raises Position in Portland General Electric Company $POR

Massachusetts Financial Services Co. MA lifted its position in shares of Portland General Electric Company (NYSE:POR) by 31.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,329,723 shares of the utilities provider’s stock after acquiring an additional 553,570 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.01% of Portland General Electric worth $120,750,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in POR. Clearbridge Investments LLC lifted its position in Portland General Electric by 1,342.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,643,134 shares of the utilities provider’s stock valued at $222,824,000 after purchasing an additional 4,321,305 shares during the period. Norges Bank purchased a new position in shares of Portland General Electric during the 4th quarter worth approximately $56,497,000. AQR Capital Management LLC lifted its holdings in shares of Portland General Electric by 42.2% in the 4th quarter. AQR Capital Management LLC now owns 3,551,731 shares of the utilities provider’s stock valued at $170,448,000 after buying an additional 1,054,450 shares during the period. UBS Group AG lifted its holdings in shares of Portland General Electric by 514.3% in the 4th quarter. UBS Group AG now owns 883,162 shares of the utilities provider’s stock valued at $42,383,000 after buying an additional 739,404 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Portland General Electric by 99.4% in the 3rd quarter. Millennium Management LLC now owns 1,385,777 shares of the utilities provider’s stock valued at $60,974,000 after buying an additional 690,743 shares during the period.

Insiders Place Their Bets

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Portland General Electric Price Performance

Shares of NYSE:POR opened at $50.74 on Friday. The business’s 50 day simple moving average is $51.08 and its 200-day simple moving average is $51.32. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. 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) 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). Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $839.75 million. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Portland General Electric Company will post 3.4 earnings per share for the current fiscal year.

Portland General Electric Dividend Announcement

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 given a dividend of $0.5513 per share. 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 payout ratio is presently 96.92%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on POR. Weiss Ratings raised Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. BMO Capital Markets set a $52.00 target price on Portland General Electric in a report on Tuesday, August 4th. 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. 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 note on Monday, April 20th. Finally, Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $51.25.

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.