Portland General Electric Company $POR Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in shares of Portland General Electric Company (NYSE:POR) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,214 shares of the utilities provider’s stock after selling 10,979 shares during the quarter. HighTower Advisors LLC’s holdings in Portland General Electric were worth $3,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sterling Capital Management LLC lifted its position in Portland General Electric by 18.8% during the first quarter. Sterling Capital Management LLC now owns 127,496 shares of the utilities provider’s stock valued at $6,728,000 after purchasing an additional 20,147 shares during the period. GSA Capital Partners LLP grew its position in Portland General Electric by 683.5% during the 4th quarter. GSA Capital Partners LLP now owns 43,282 shares of the utilities provider’s stock worth $2,077,000 after purchasing an additional 37,758 shares during the period. Jennison Associates LLC purchased a new position in shares of Portland General Electric during the 4th quarter valued at about $897,000. LSV Asset Management raised its stake in shares of Portland General Electric by 34.1% during the 4th quarter. LSV Asset Management now owns 799,147 shares of the utilities provider’s stock valued at $38,351,000 after buying an additional 203,400 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Portland General Electric in the 4th quarter valued at about $56,497,000.

Insider Buying and Selling at Portland General Electric

In other news, Director Michael A. Lewis sold 1,537 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $51.83, for a total transaction of $79,662.71. Following the transaction, the director owned 15,045 shares in the company, valued at $779,782.35. This trade represents a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on POR shares. Wells Fargo & Company set a $51.00 target price on Portland General Electric in a research note on Tuesday, April 21st. Weiss Ratings upgraded Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.25.

Portland General Electric Trading Up 0.8%

POR stock opened at $50.74 on Friday. Portland General Electric Company has a 52-week low of $41.80 and a 52-week high of $54.62. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The firm has a market cap of $5.97 billion, a P/E ratio of 22.35, a PEG ratio of 2.18 and a beta of 0.52. The company’s 50-day simple moving average is $51.08 and its 200-day simple moving average is $51.32.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $814.00 million during the quarter, compared to analyst estimates of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. As a group, equities analysts forecast that Portland General Electric Company will post 3.4 EPS for the current fiscal 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 dividend of $0.5513 per share. This represents a $2.21 annualized dividend 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 is presently 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.