Jennison Associates LLC Has $2.47 Million Stock Position in Portland General Electric Company $POR

Jennison Associates LLC raised its stake in shares of Portland General Electric Company (NYSE:POR) by 150.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 46,815 shares of the utilities provider’s stock after acquiring an additional 28,128 shares during the quarter. Jennison Associates LLC’s holdings in Portland General Electric were worth $2,470,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in POR. V Square Quantitative Management LLC bought a new position in Portland General Electric during the fourth quarter valued at about $25,000. Private Trust Co. NA lifted its position in shares of Portland General Electric by 76.4% in the 4th quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Portland General Electric in the 3rd quarter worth approximately $27,000. Rothschild Investment LLC grew its holdings 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 in the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Portland General Electric during the 4th quarter worth approximately $34,000.

Portland General Electric Trading Up 1.3%

Shares of POR opened at $52.94 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 1.19. The stock has a market cap of $6.13 billion, a PE ratio of 23.63, a PEG ratio of 2.19 and a beta of 0.52. Portland General Electric Company has a 1 year low of $39.73 and a 1 year high of $54.62. The stock has a 50 day simple moving average of $50.89 and a 200-day simple moving average of $51.23.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate 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 company had revenue of $879.00 million during the quarter, compared to analyst estimates of $953.24 million. During the same period in the prior year, the firm earned $0.91 EPS. Portland General Electric’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Portland General Electric Company will post 3.4 EPS for the current fiscal year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were paid a $0.5513 dividend. The ex-dividend date was Thursday, June 25th. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. This is a boost from Portland General Electric’s previous quarterly dividend of $0.53. Portland General Electric’s dividend payout ratio is presently 98.21%.

Insider Activity

In other news, VP Juan Diego Gallegos sold 2,750 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $48.67, for a total value of $133,842.50. Following the completion of the sale, the vice president directly owned 12,127 shares in the company, valued at approximately $590,221.09. This trade represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert N. Hoglund acquired 2,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the acquisition, the director owned 2,519 shares in the company, valued at approximately $122,927.20. The trade was a 385.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on POR. BMO Capital Markets cut their target price on Portland General Electric from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Wednesday. Zacks Research downgraded shares of Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a research note on Friday, May 15th. Finally, Wells Fargo & Company set a $51.00 price objective on shares of Portland General Electric in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Portland General Electric presently has an average rating of “Reduce” and a consensus price target of $50.90.

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.