15,272 Portland General Electric Company $POR Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. decreased its stake in Portland General Electric Company (NYSE:POR) by 19.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 64,202 shares of the utilities provider’s stock after selling 15,272 shares during the quarter. Alps Advisors Inc.’s holdings in Portland General Electric were worth $2,865,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of POR. BlackRock Inc. lifted its position in shares of Portland General Electric by 7.4% during the second quarter. BlackRock Inc. now owns 18,719,655 shares of the utilities provider’s stock worth $970,240,000 after purchasing an additional 1,292,219 shares in the last quarter. State Street Corp grew its holdings in Portland General Electric by 8.0% during the 2nd quarter. State Street Corp now owns 5,019,860 shares of the utilities provider’s stock valued at $262,810,000 after purchasing an additional 372,165 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Portland General Electric by 31.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,329,723 shares of the utilities provider’s stock valued at $120,750,000 after purchasing an additional 553,570 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Portland General Electric by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,142 shares of the utilities provider’s stock valued at $96,629,000 after purchasing an additional 18,146 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Portland General Electric by 60.6% during the 1st quarter. Bank of America Corp DE now owns 1,660,446 shares of the utilities provider’s stock worth $87,622,000 after buying an additional 626,223 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Portland General Electric from $58.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Zacks Research raised shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their target price on Portland General Electric from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. BTIG Research set a $57.00 target price on Portland General Electric in a research report on Tuesday, October 20th. Finally, UBS Group dropped their target price on Portland General Electric from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Portland General Electric has an average rating of “Hold” and a consensus price target of $51.56.

Portland General Electric Stock Performance

Portland General Electric stock opened at $45.98 on Tuesday. The stock has a market cap of $5.48 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 1.01 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average of $45.99 and a 200-day moving average of $49.89. Portland General Electric Company has a 52 week low of $43.26 and a 52 week high of $54.62.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The company had revenue of $971.00 million for the quarter, compared to analyst estimates of $1.02 billion. Portland General Electric had a return on equity of 7.66% and a net margin of 7.68%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, analysts expect that Portland General Electric Company will post 3.28 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.5513 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Tuesday, December 22nd. Portland General Electric’s dividend payout ratio is 94.42%.

About Portland General Electric

Portland General Electric Company (PGE) is an investor-owned electric utility headquartered in Portland, Oregon. The company generates, transmits and distributes electricity to residential, commercial and industrial customers.

PGE serves communities across Oregon, including the Portland metropolitan area and Salem. Its operations include a mix of company-owned and contracted power resources, as well as the transmission and distribution infrastructure needed to deliver electricity to customers.

The company traces its history to the late 19th century and has grown alongside Oregon’s cities and industries.