Principal Financial Group Inc. Raises Stake in Portland General Electric Company $POR

Principal Financial Group Inc. raised its holdings in shares of Portland General Electric Company (NYSE:POR) by 58.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 386,026 shares of the utilities provider’s stock after acquiring an additional 142,327 shares during the period. Principal Financial Group Inc.’s holdings in Portland General Electric were worth $20,371,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Portland General Electric in the 4th quarter worth approximately $25,000. Private Trust Co. NA grew its holdings in shares of Portland General Electric by 76.4% during the 4th 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. bought a new position in shares of Portland General Electric during the 3rd quarter valued at $27,000. Rothschild Investment LLC raised its position 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 purchased a new position in Portland General Electric in the 4th quarter worth $34,000.

Portland General Electric Trading Down 0.6%

NYSE:POR opened at $52.20 on Wednesday. The company has a fifty day moving average of $50.80 and a 200 day moving average of $51.19. Portland General Electric Company has a 52 week low of $39.73 and a 52 week high of $54.62. The company has a quick ratio of 0.95, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $6.04 billion, a P/E ratio of 23.30, a P/E/G ratio of 2.20 and a beta of 0.52.

Portland General Electric (NYSE:POR) last announced its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.19). The firm had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $953.24 million. Portland General Electric had a net margin of 7.12% and a return on equity of 7.57%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. On average, research analysts predict that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were issued 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 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, June 25th. Portland General Electric’s dividend payout ratio (DPR) is currently 98.21%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Portland General Electric from $51.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company set a $51.00 price objective on Portland General Electric in a report on Tuesday, April 21st. Zacks Research lowered Portland General Electric from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Portland General Electric in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Portland General Electric has a consensus rating of “Reduce” and an average target price of $51.00.

Insider Transactions at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 7,500 shares of the company’s 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 completion of the transaction, the chief financial officer owned 31,897 shares of the company’s stock, valued at $1,563,909.91. This represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Juan Diego Gallegos sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $48.67, for a total value of $133,842.50. Following the transaction, the vice president directly owned 12,127 shares of the company’s stock, valued at $590,221.09. The trade was a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.52% of the stock is currently owned by company insiders.

Portland General Electric 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.