Bank of New York Mellon Corp Purchases 49,115 Shares of Portland General Electric Company $POR

Bank of New York Mellon Corp boosted its position in Portland General Electric Company (NYSE:POR) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,415,187 shares of the utilities provider’s stock after purchasing an additional 49,115 shares during the quarter. Bank of New York Mellon Corp’s holdings in Portland General Electric were worth $74,679,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Portland General Electric during the fourth quarter worth about $3,662,000. GSA Capital Partners LLP increased its stake in Portland General Electric by 683.5% in the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider’s stock worth $2,077,000 after acquiring an additional 37,758 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Portland General Electric by 18.8% in the 1st quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider’s stock valued at $6,728,000 after acquiring an additional 20,147 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Portland General Electric in the 4th quarter valued at about $897,000. Finally, LSV Asset Management boosted its position in shares of Portland General Electric by 34.1% during the 4th quarter. LSV Asset Management now owns 799,147 shares of the utilities provider’s stock valued at $38,351,000 after acquiring an additional 203,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

POR has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a 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 lowered shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Portland General Electric in a research report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Portland General Electric has a consensus rating of “Reduce” and an average price target of $51.00.

Portland General Electric Stock Down 0.6%

POR opened at $52.20 on Wednesday. The stock has a market cap of $6.04 billion, a PE ratio of 23.30, a P/E/G ratio of 2.20 and a beta of 0.52. 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 Company has a 52 week low of $39.73 and a 52 week high of $54.62. The business’s fifty day simple moving average is $50.80 and its 200 day simple moving average is $51.19.

Portland General Electric (NYSE:POR) last released its quarterly earnings results 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). Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The firm had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, research analysts expect that Portland General Electric Company will post 3.4 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 25th were issued a dividend of $0.5513 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s payout ratio is 98.21%.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total value of $367,725.00. Following the completion of the sale, the chief financial officer owned 31,897 shares of the company’s stock, valued at $1,563,909.91. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total transaction of $133,842.50. Following the transaction, the vice president owned 12,127 shares in the company, valued at $590,221.09. The trade was a 18.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is currently owned by 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.