Assenagon Asset Management S.A. Sells 65,557 Shares of Portland General Electric Company $POR

Assenagon Asset Management S.A. reduced its holdings in shares of Portland General Electric Company (NYSE:POR) by 85.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,751 shares of the utilities provider’s stock after selling 65,557 shares during the period. Assenagon Asset Management S.A.’s holdings in Portland General Electric were worth $567,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Portland General Electric during the 4th quarter worth $25,000. Private Trust Co. NA increased its stake 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 purchasing an additional 239 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Portland General Electric in the 3rd quarter worth $27,000. Rothschild Investment LLC raised its holdings in Portland General Electric by 112.9% in 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 period. Finally, SHP Wealth Management bought a new position in Portland General Electric in the 4th quarter worth $34,000.

Portland General Electric Trading Up 2.2%

Shares of Portland General Electric stock opened at $52.61 on Friday. The company has a market capitalization of $6.09 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.16 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 1.09. The company has a fifty day moving average of $50.16 and a 200 day moving average of $50.79. Portland General Electric Company has a fifty-two week low of $39.73 and a fifty-two week high of $54.62.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.19). The business had revenue of $879.00 million for the quarter, compared to the consensus estimate of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. Portland General Electric’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. On average, sell-side analysts anticipate that Portland General Electric Company will post 3.39 earnings per share for the current fiscal year.

Portland General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be given a dividend of $0.5513 per share. This is an increase from Portland General Electric’s previous quarterly dividend of $0.53. This represents a $2.21 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Thursday, June 25th. Portland General Electric’s dividend payout ratio (DPR) is 98.21%.

Insider Activity at Portland General Electric

In related news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of Portland General Electric stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.03, for a total transaction of $367,725.00. Following the sale, the chief financial officer owned 31,897 shares of the company’s stock, valued at approximately $1,563,909.91. This trade represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert N. Hoglund purchased 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $48.80 per share, for a total transaction of $97,600.00. Following the completion of the acquisition, the director owned 2,519 shares in the company, valued at $122,927.20. This represents a 385.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on POR shares. JPMorgan Chase & Co. lifted their target price on Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed 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 Portland General Electric in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.00.

About Portland General Electric

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.