Jennison Associates LLC Trims Stock Position in Portland General Electric Company $POR

Jennison Associates LLC lessened its stake in Portland General Electric Company (NYSE:POR) by 35.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,308 shares of the utilities provider’s stock after selling 16,507 shares during the period. Jennison Associates LLC’s holdings in Portland General Electric were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Private Trust Co. NA increased its position in shares of Portland General Electric by 76.4% during the fourth 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 valued at about $27,000. Rothschild Investment LLC boosted its position in shares of Portland General Electric by 112.9% in the 4th quarter. Rothschild Investment LLC now owns 611 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 324 shares during the period. SHP Wealth Management acquired a new stake in shares of Portland General Electric in the 4th quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Portland General Electric by 272.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719 shares of the utilities provider’s stock worth $35,000 after buying an additional 526 shares during the last quarter.

Portland General Electric Price Performance

Shares of POR opened at $50.74 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $51.08 and its two-hundred day moving average is $51.32. Portland General Electric Company has a twelve month low of $41.80 and a twelve month high of $54.62. The firm has a market capitalization of $5.97 billion, a PE ratio of 22.35, a P/E/G ratio of 2.17 and a beta of 0.52.

Portland General Electric (NYSE:POR) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate 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 net margin of 7.27% and a return on equity of 7.47%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Research analysts anticipate that Portland General Electric Company will post 3.4 earnings per share for the current year.

Portland General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a $0.5513 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.21 annualized dividend and a yield of 4.3%. Portland General Electric’s dividend payout ratio is presently 96.92%.

Analyst Ratings Changes

POR has been the subject of a number of research reports. LADENBURG THALM/SH SH upgraded Portland General Electric from a “neutral” rating to a “buy” rating and set a $48.50 price objective for the company in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Portland General Electric from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings raised shares of Portland General Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Portland General Electric from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company set a $51.00 price target on shares of Portland General Electric in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.25.

Insider Transactions at Portland General Electric

In other Portland General Electric news, Director Michael A. Lewis sold 1,537 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $51.83, for a total value of $79,662.71. Following the completion of the sale, the director owned 15,045 shares of the company’s stock, valued at approximately $779,782.35. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

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.