Portland General Electric Company (POR) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. raised its position in shares of Portland General Electric Company (NYSE:POR) by 8.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,182,938 shares of the utilities provider’s stock after buying an additional 247,232 shares during the period. Alliancebernstein L.P. owned about 3.58% of Portland General Electric Company worth $141,386,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of POR. Bessemer Group Inc. increased its stake in Portland General Electric Company by 2.4% in the fourth quarter. Bessemer Group Inc. now owns 60,400 shares of the utilities provider’s stock worth $2,617,000 after buying an additional 1,400 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Portland General Electric Company by 3.3% in the first quarter. Foundry Partners LLC now owns 256,522 shares of the utilities provider’s stock worth $11,395,000 after buying an additional 8,168 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Portland General Electric Company by 7.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,578,156 shares of the utilities provider’s stock worth $68,381,000 after buying an additional 105,588 shares during the period. Horizon Investment Services LLC increased its stake in shares of Portland General Electric Company by 5.8% in the third quarter. Horizon Investment Services LLC now owns 17,140 shares of the utilities provider’s stock worth $730,000 after buying an additional 933 shares during the period. Finally, Becker Capital Management Inc. purchased a new stake in shares of Portland General Electric Company during the fourth quarter worth $233,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Portland General Electric Company (NYSE:POR)

Portland General Electric Company (NYSE POR) opened at 47.77 on Friday. The firm has a 50-day moving average of $46.20 and a 200 day moving average of $44.55. The firm has a market capitalization of $4.25 billion, a PE ratio of 20.77 and a beta of 0.33. Portland General Electric Company has a 12 month low of $40.28 and a 12 month high of $48.06.

Portland General Electric Company (NYSE:POR) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.82. The company had revenue of $530 million during the quarter, compared to the consensus estimate of $521.97 million. Portland General Electric Company had a return on equity of 8.78% and a net margin of 10.43%. Portland General Electric Company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Equities research analysts forecast that Portland General Electric Company will post $2.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, June 26th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, June 22nd. This is an increase from Portland General Electric Company’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.85%. Portland General Electric Company’s dividend payout ratio (DPR) is currently 55.65%.

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POR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Portland General Electric Company from a “hold” rating to a “sell” rating in a report on Friday, March 17th. Wolfe Research downgraded shares of Portland General Electric Company from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 21st. Finally, Barclays PLC reissued an “underweight” rating and issued a $44.00 price objective (up previously from $41.00) on shares of Portland General Electric Company in a research note on Sunday, April 23rd. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.20.

In other news, insider William O. Nicholson sold 6,000 shares of Portland General Electric Company stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.10, for a total transaction of $270,600.00. Following the completion of the sale, the insider now directly owns 16,313 shares in the company, valued at $735,716.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Campbell A. Henderson sold 3,000 shares of Portland General Electric Company stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.01, for a total value of $135,030.00. Following the sale, the vice president now owns 20,424 shares of the company’s stock, valued at $919,284.24. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

Portland General Electric Company Company Profile

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Its service area allocation of approximately 4,000 square miles is located entirely within Oregon and includes approximately 51 incorporated cities, of which Portland and Salem.

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