Mitsubishi UFJ Trust & Banking Corp Takes $829,000 Position in Portland General Electric Company $POR

Mitsubishi UFJ Trust & Banking Corp acquired a new position in Portland General Electric Company (NYSE:POR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,985 shares of the utilities provider’s stock, valued at approximately $829,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Portland General Electric by 7.4% during the 1st quarter. Royal Bank of Canada now owns 161,931 shares of the utilities provider’s stock valued at $7,222,000 after acquiring an additional 11,141 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Portland General Electric by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,949 shares of the utilities provider’s stock worth $2,763,000 after purchasing an additional 2,717 shares during the period. Millennium Management LLC increased its stake in Portland General Electric by 465.5% in the 1st quarter. Millennium Management LLC now owns 151,134 shares of the utilities provider’s stock worth $6,741,000 after purchasing an additional 124,410 shares during the period. United Services Automobile Association bought a new stake in Portland General Electric in the first quarter valued at approximately $271,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Portland General Electric by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,640 shares of the utilities provider’s stock valued at $10,420,000 after purchasing an additional 13,799 shares during the last quarter.

Portland General Electric Trading Up 0.8%

POR opened at $50.74 on Friday. The business has a 50 day simple moving average of $51.08 and a two-hundred day simple moving average of $51.32. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.18 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 one year low of $41.80 and a one year high of $54.62.

Portland General Electric (NYSE:POR) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Analysts predict that Portland General Electric Company will post 3.4 EPS for the current year.

Portland General Electric Dividend Announcement

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

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 1,537 shares of the firm’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 completion of the sale, the director owned 15,045 shares of the company’s stock, valued at $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

POR has been the subject of a number of analyst reports. Weiss Ratings raised Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. LADENBURG THALM/SH SH upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price target for the company in a report on Thursday. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. BMO Capital Markets set a $52.00 price target on shares of Portland General Electric in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised 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. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.25.

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.