Portland General Electric Company $POR Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in shares of Portland General Electric Company (NYSE:POR) by 31.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,329,723 shares of the utilities provider’s stock after acquiring an additional 553,570 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Portland General Electric were worth $120,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Trust Co. NA grew its position in shares of Portland General Electric by 76.4% in the fourth quarter. Private Trust Co. NA now owns 552 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Portland General Electric during the 3rd quarter worth approximately $27,000. Rothschild Investment LLC raised its position 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 during the last quarter. SHP Wealth Management purchased a new stake in Portland General Electric in the 4th quarter valued at approximately $34,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Portland General Electric by 272.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock valued at $35,000 after buying an additional 526 shares in the last quarter.

Insider Buying and Selling

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on POR shares. LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 target price on the stock in a report on Thursday. Zacks Research raised 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 objective on Portland General Electric in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Portland General Electric presently has a consensus rating of “Hold” and a consensus price target of $51.25.

Portland General Electric Stock Performance

Shares of POR stock opened at $50.74 on Friday. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.98. The company has a 50 day moving average price of $51.08 and a 200 day moving average price of $51.32. 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 issued its earnings results 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 firm 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 period last year, the business posted $0.66 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Friday, September 25th will be paid a $0.5513 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, September 25th. Portland General Electric’s dividend payout ratio (DPR) is currently 96.92%.

Portland General Electric Company 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.